Individual Life Insurance Policies

Individual life insurance plans are a type of financial protection product designed to provide, typically, a lump sum benefit to the insured’s named dependents in the case of death in exchange for a set premium paid. It is perhaps, other than health insurance, the most important product you can buy. Depending on the type of life insurance, it can also trigger a payment to the insured if he or she lives past the completion date of the contract. For example, a whole/universal contract may have a payout date of 100. If you live to 100, they will pay out in full as if you had already passed. Also, some life insurance contracts offer special payouts if you have a named critical illness. Typically, they pay out half the policies face value. For example, if you had a million-dollar policy, they would pay-out a portion of your policy amount, so you can use that money as you wished, while you were still alive. Get a quote for an individual life insurance plan today.

The Most Common Types of Life Insurance


Term insurance is the most affordable type of insurance and the most common. The beneficiary receives the policy amount or death benefit if the policyholder dies. The drawback is term life insurance is purchased for a set amount of time, usually 10, 20, or 30 years. It is possible that you may pay a bunch of premiums to the insurance company and not ever receive a benefit. The positive is that it is very affordable, and you can adjust it over time. Meaning when you are in your 30’s and you have children, a mortgage, college to pay for you may need to leave more money for your dependents. By the time you are in your 50’s or 60’s your house may be paid off, your children may have jobs and have made their way through college, so you may need much less. That is why 10 to 20-year terms are often purchased more than a 30-year term.


In contrast, whole life costs more, but covers you until you pass away or outlive the policy, i.e., live to 100 or 105 when they pay you out as if you passed. This type of policy can also act as an investment vehicle. Many of these policies use part of your premium to accumulate cash value. During the life of the insurance policy, the policyholder can access the cash value, but it is a taxable event if you take the money out.

isure llc

The average company that moves from another broker or PEO service to work with Isure, saves $1,800 per employee per year in benefits.

isure llc

Examples of Why Someone Might Purchase Life Insurance

  • They just got married and want to insure the financial protection of their spouse.
  • You just had a baby, and you want to make sure that if you pass away the child is well provided for or has resources to attend secondary schooling.
  • You are a business owner and want to protect your investment by purchasing a buy sell or key man policy.
  • You need a loan, and the bank makes you take out a policy to serve as collateral on the loan i.e. making the bank the beneficiary if you pass away to secure the loan.
  • You take out a policy when you buy a house that covers the whole face value of your mortgage, so your loved ones do not have the burden of covering the mortgage should you pass away.

It is important to note that we never charge you for using our services, our commission for assisting you comes from the insurance companies. We act as a broker and run quotes with all of the major carriers guaranteeing you the best rate for the benefits that best suit your need.