Evergreen Life & Health

Life Insurance Options

Life insurance pays a benefit to the people you name when you pass away. The right type depends on what you want it to do and for how long. Here are the main kinds in plain terms.

Term life

Covers you for a set number of years, such as 10, 20 or 30. It is often used for a defined need, like a mortgage or raising children. If you outlive the term, coverage ends unless you renew or convert it.

Whole life

Permanent coverage that stays in force as long as premiums are paid. It builds cash value over time, and the premium is designed to stay level.

Universal life (UL and IUL)

Permanent coverage with flexibility in the premium and death benefit. In an indexed universal life policy (IUL), credited interest is linked to a market index but the policy is not invested directly in the market, and caps and floors apply. Cash values are not guaranteed to grow.

Term life with living benefits

A living-benefits rider may let you receive part of the death benefit early if you are diagnosed with a qualifying serious illness. Using it can reduce what your family receives later, and conditions apply, so we read the rider with you.

Questions to ask yourself first

• Who depends on my income, and for how long?
• What debts or costs would my family face?
• What can I comfortably pay every month?

We treat every family's plans the way we would want ours treated: with patience and honesty.

Questions people ask

• How much do I need? We go through your situation and give ranges, not a single number.
• Do I need a medical exam? Some policies require one, and some do not. We explain the difference.