Let’s talk about one of the most well-known — and misunderstood — types of life insurance: whole life insurance . This isn’t just your basic “protect me while the kids are young” policy. Whole life coverage is designed to last your entire life — not just a 10, 20, or 30-year term. And with that long-term coverage comes some pretty unique benefits... and a few important trade-offs. So, is it the right fit for you ? Let’s break it down. What Is Whole Life Insurance? Whole life insurance is a type of permanent life insurance , which means it stays in place as long as you keep paying the premiums — no matter how old you get or what health curveballs life throws your way. But here’s what makes it stand out: it builds cash value. Each time you make a premium payment, a portion goes toward your policy’s death benefit, and another portion is set aside in a tax-deferred savings account (a.k.a. the cash value). Over time, this cash value grows — and you can borrow from it or use it while...

  Why GIO Riders Matter:  Life Insurance Tips for the Young If you’re shopping for life insurance—or already have a policy—you may have come across something called a GIO rider . But what is it, and why does it matter? Let’s break it down simply. What Is a GIO Rider? A GIO rider , short for Guaranteed Insurability Option , is an add-on to your life insurance policy that allows you to purchase additional coverage in the future — without going through a medical exam or health underwriting. That means you can lock in the right to increase your coverage at specific ages or life events (like marriage or having a child), even if your health changes later. Why Add a GIO Rider When You’re Young? Here’s where the value really kicks in. Adding a GIO rider when you’re young and healthy can be one of the smartest financial decisions you can make for long-term protection. Here’s why: Lock in Future Insurability —No Matter What Happens to Your Health Life is unpredictable. Accidents, ill...

  Most people don't want to think about dying — and we get it. But the truth is, the impact of not having a plan in place can leave your loved ones with more than just grief. If you pass away without life insurance, your family may face a serious financial burden on top of emotional loss. Your Family Pays for the Funeral — Out of Pocket The average funeral in the U.S. now costs $10,000 or more when you add in the casket, burial, service, and other related expenses. Without life insurance or final expense coverage, your family will likely have to cover this on their own — often by draining savings, taking on debt, or setting up a GoFundMe. A small policy can spare your loved ones from a big financial hit during an already overwhelming time. Your Debts Don’t Just Disappear Creditors don’t stop calling when someone passes away. If you leave behind credit cards, personal loans, car payments, or even medical bills, your estate — or your family — may be on the hook for those debts. Wh...