Household Income
Proceeds may help beneficiaries address household expenses after the loss of an insured person’s income.
Life Insurance
Protection for the people and plans you value.
Life insurance can provide financial support to the people you name as beneficiaries after your death. Trinity can help you review policy types, coverage amounts and available carrier choices.
Life Insurance
Coverage designed around
people, responsibilities and future needs.
01
Family Income
Beneficiary support
02
Mortgage & Debt
Financial obligations
03
Future Expenses
Family planning needs
04
Legacy
Beneficiary planning
Why Life Insurance
Life insurance is about the people who remain.
A life insurance policy can pay a death benefit to designated beneficiaries when the policy terms are satisfied.
The amount and type of coverage you select can depend on your household, financial obligations, income and future plans.
Financial Responsibilities
What could the death benefit help address?
Beneficiaries generally decide how to use life insurance proceeds unless the policy or another arrangement provides otherwise.
Mortgage
A death benefit may help beneficiaries address ongoing housing obligations.
Outstanding Debt
Life insurance proceeds may be used toward qualifying financial obligations.
Education
Some households consider future education expenses when deciding on a coverage amount.
Final Expenses
Proceeds may help beneficiaries address funeral and other final expenses.
Long-Term Family Needs
Coverage decisions can account for financial responsibilities expected to continue for many years.
Coverage Planning
Start with the financial responsibilities
that would remain.
Start With Your Responsibilities
Coverage amount is a personal financial decision.
There is no single coverage amount that fits every household. The discussion can begin with income, debt, housing and other financial responsibilities.
01
Household income
Consider how long beneficiaries may depend on current income.
02
Mortgage and debt
Review major balances and financial obligations.
03
Future expenses
Consider expenses expected over the years ahead.
04
Existing resources
Existing savings, insurance and other resources can be part of the discussion.
Policy Types
Life insurance can take different forms.
Policy structure, premiums, guarantees, cash value and duration differ by product. Review the actual carrier illustration and policy documents.
Term Life Insurance
Term life insurance generally provides coverage for a stated period. If the insured dies while coverage is in force and policy conditions are met, the policy can pay the stated death benefit.
Whole Life Insurance
Whole life insurance is a form of permanent life insurance that may remain in force according to policy terms when required premiums are paid. It can also include a cash-value component.
Universal Life Insurance
Universal life is a permanent life insurance product that can include flexible premium and death-benefit features within policy limits. Policy charges and cash value affect how coverage performs over time.
Indexed Universal Life
Indexed universal life is a form of universal life insurance where interest crediting may be linked to the performance of an external market index according to policy terms. The policy does not directly invest cash value in the index.
Life Changes
Insurance needs can change over time.
Major changes in responsibilities can be a reason to review your existing life insurance coverage.
01
Marriage or partnership
Shared financial responsibilities can change coverage needs.
02
New household responsibilities
Additional dependents or expenses may change the coverage discussion.
03
Buying a home
A mortgage can add a major long-term financial obligation.
04
Changes in income or debt
Financial changes may justify another review of policy limits.
Life Changes
Review coverage when financial
responsibilities change.
Coverage Discussion
Questions worth asking before choosing a policy.
Who depends on my income?
Consider which people would face financial changes if your income stopped.
What debt would remain?
Review mortgages, loans and other financial obligations.
How long is coverage needed?
A temporary need and a permanent need can lead to different policy discussions.
What can I maintain?
Consider premiums and policy requirements over the expected life of the coverage.
Policy Review
Buying a policy is not the last conversation.
Beneficiaries, financial responsibilities and household circumstances can change. Periodic policy review can help keep information current.
Review beneficiaries.
Check beneficiary designations after major personal or family changes.
Review coverage amount.
Changes in income, debt or family responsibilities may affect coverage needs.
Keep policy information current.
Update contact and other applicable policy information when needed.
Getting Started
Start with the people and responsibilities that matter.
Basic personal and financial information can begin the life insurance discussion.
01
Discuss your situation.
Share the financial responsibilities you want to consider.
02
Consider a coverage amount.
Review income, debt, housing and expected future expenses.
03
Review policy types.
Compare available term and permanent life insurance choices.
04
Review carrier information.
Read policy details, premiums and applicable illustrations before deciding.
Life Insurance FAQ
Common questions.
Policy terms, premiums and eligibility vary by product and carrier.
Life insurance is a contract under which an insurer can pay a death benefit to designated beneficiaries when an insured person dies while qualifying coverage is in force and policy conditions are met.
Term life generally provides coverage for a stated period. Permanent life insurance is structured for longer-term coverage and may include cash-value features according to policy terms.
The amount is a personal financial decision. Income, debt, housing costs, future expenses, existing insurance and available resources can all be considered.
Many permanent life insurance products include cash-value features, but the way cash value works varies by policy. Review the policy and carrier illustration for applicable details.
Requirements vary by carrier and product. An application may request personal, financial and other underwriting information needed by the insurer.
Life Insurance
Plan today for the people who matter tomorrow.
Tell Trinity about your life insurance needs to begin reviewing available policy types and carrier choices.