It’s all about your goals and what you wish to happen in the event of your demise and how it affects those closest to you.

For starters…how much is the funeral itself going to cost?

Wanting to pay off that mortgage so that a spouse isn’t saddled with that debt and can live without the worry of a housing expense going forward?

Worried about replacing your loss of income in the family budget?

What about children or grandchildren? Wanting to leave anything for them…perhaps pay for their vocational or college education?

Are there other debts or obligations to consider?

Does your passing mean something financially to your business? Or how about your business partner?

As for coverage, there are two main types…term or whole life. Term Life is what most consumers are looking for and opt for…as it’s typically more affordable and meets a variety of needs and goals for most insureds. You can afford a much higher face value typically with term life. You select a term of anywhere from 10 years to as much as 30 years and, once approved, you lock in your monthly, quarterly or annual rate for the given term…the price stays fixed for that period. This type of life insurance product typically does not build any cash value. It can be used to serve a variety of needs for when you would need it most…your working years when you typically have considerable income to replace in your household budget and, at the same time, the greatest obligations in terms of debts, mortgages, children still in the household and not yet through college, etc. At the end of the policy term, if you’ve not passed away during the term, the policy essentially ends if you’ve not already converted it into some other type of policy coverage prior to the expiration of the fixed rate period.

Whole Life is designed to last your entire life…premiums are level and are typically charged each year up until your death. Some policies may limit the premium payment period up to a given age…typically in the range of anywhere between ages 65-120. Unlike term life, whole life most often builds a cash value and offers provisions for policy loans. Dollar for dollar, this type of policy is much more expensive vs. term life.

Graham Insurance has access to 15-20 major life insurers for term and whole life products. Let us know if we can help secure a quote and coverage for you, and more importantly, for the people closest to you who are likely to be affected the most by your passing.


Child Term Insurance is typically available as an optional rider for an additional charged premium on many term life insurance policies. This rider covers each of your children up to a given age and a given amount on a per child basis…most often anywhere between $ 10,000 to $ 20,000 per child. This coverage can help pay for or offset funeral expenses in the event of a death of an insured child in your household.


A Waiver of Premium rider is typically available as an optional rider for an additional charged premium on many term life insurance policies as well.  Should you become critically ill, seriously injured and/or permanently disabled during the length of your policy term, the coverage under this optional rider results in your charged premium payments being waived so that you can know that your coverage under the policy will continue when you’ve undoubtedly suffered the tremendous loss of income that most often accompanies such an event and would otherwise result in you being unable to afford continuing to make your premium payments.

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