TERM LIFE INSURANCE
Coverage designed for a specific period of time. Term life is often considered for needs such as income protection, family responsibilities, mortgage obligations, and other financial commitments during important years of life.
LIFE INSURANCE OPTIONS
Coverage Designed Around Different Needs
Life insurance is not one-size-fits-all. Different types of coverage may be considered depending on your family, financial responsibilities, goals, and how long you want protection to remain in place.
Not sure which type of coverage may fit your needs? A licensed Lumera Life professional can help you understand your options.
PERMANENT LIFE INSURANCE
Coverage generally designed to remain in place for life, subject to policy terms and required premiums. Features, costs, and available options can vary depending on the policy and insurer.
FINAL EXPENSE PLANNING
Coverage commonly considered to help provide funds beneficiaries may use toward funeral costs, final expenses, and other financial responsibilities that may remain.
Factors That Shape Your Coverage Needs
Understanding the factors that can influence your life insurance needs can help you consider an appropriate level of protection for your family and financial responsibilities.
[ AGE ]
Age is one of the factors insurers may consider when determining eligibility and premiums. In general, life insurance may cost less when coverage is obtained at a younger age.
[ HEALTH ]
Health history and other underwriting factors may affect eligibility, available coverage options, and premiums. Requirements vary by insurer and policy.
[ AMOUNT ]
The amount of coverage you choose can affect the cost of your policy. Your income, dependents, debts, future expenses, and financial goals can all help determine how much protection you may want to consider.
[ INCOME ]
Income can help determine how much coverage you may want to consider, particularly when others depend on your earnings for everyday expenses and future financial needs.
[ MORTGAGE ]
Life insurance can help provide funds your beneficiaries may use toward mortgage payments and other household expenses after your death.
[ DEBT ]
Life insurance proceeds can help beneficiaries manage certain outstanding financial obligations and reduce the financial pressure they may face after your death.
[ LEGACY ]
Life insurance can also be considered as part of a broader financial strategy to help provide for loved ones, support future opportunities, or leave a financial legacy.