When you buy life insurance, you want a policy which fits your needs without costing too much. Your first step, is to decide how much you need, how much you can afford to pay and the kind of policy you want. Then, find out what various companies charge for that kind of policy. You can find important differences in the cost of life insurance by using the life insurance cost indexes which we can provide you. We are able and willing to help you with each of these shopping steps.

If you are going to make a good choice when you buy life insurance, you need to understand which kinds are available. If one kind does not seem to fit your needs, we will show the other kinds.

You should think of life insurance as a source of cash needed for expenses for final illnesses, paying taxes, mortgages or other debts. It can also provide income for your family's living expenses, educational costs and other future expenses.

There is only one company in the entire industry that would waive premiums for life insurance if person is disabled and is working outside his/her specialty in another occupation - Guardian. Most other carriers would not waive premium if the insured is working in a different occupation.

There are approximately 5 different types of Life Insurance:
- Term Insurance
- Annual Renewable Term
- Universal Whole Life
- Whole Life
- Mortgage Term Life

Each one of the contracts has its own waiver of premium. If the insured is disabled the premium will be paid by the insurance company.

Term
The type of coverage a person can rent for a period of time. This is also the cheapest form of insurance, however as time goes by, insurance can be expensive.
5 year term, person has to requalify medically and financially for new coverage. If insured chooses to convert coverage, they may do so. It all depends what age they would like to covert it to. Different insurance companies treat this conversion differently. Some insurance companies allow you to covert during disability. Check the fine print.

Universal Life
Insured pays for coverage for certain amount of years. The cash that is generated the by interest rate is equal or greater then the premium, then the insured can stop paying. This all depends on the insurance company's performance.
In order to compare the insurance company and the cost of insurance, they should compare the net cost of the insurance carriers. Universal Life is the most flexible. The insured can stop paying for premiums and can catch up on a later date.

Variable Life
Part of Premium goes into term cost of insurance; the other part goes into mutual funds, stocks or bonds. This can be very risky depending on stock market.

Whole Life
Oldest form of life insurance, it has the longest history; however it is also the most expensive form of life insurance available. It has been in existence for 120yrs. In comparison to variable and universal, premimums can never be changed; However Whole Life does not have the flexibility of of Universal Life policy.
There are many companies that have waive of premiums. Insured must be extremely careful as to what the language states in insurance company contract. It has been in our experience that there has been only one insurance company that will have premiums for the insured and that will still allow the client to work in a different occupation. All the other companies state that if insured works in a different occupation, premiums will not be waived.