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Life Insurance FAQ's

What is the difference between Whole Life Insurance and Term Life Insurance?

Any form of life insurance provides beneficiaries with an ongoing source of income in the event of the breadwinners passing. Highlighted below are the differences between Whole Life Policies and Term Life Policies.

Coverage Period

Whole Life Insurance

Lifetime Coverage

Term Life Insurance

Preset coverage period, typically 10, 15, 20 or 30 years


Premium amount is set for the lifetime of the insured

Premium amount is guaranteed for the policy term selected

Cash Value

Many policies generate a cash value which can be utilized during the lifetime of the insured

Cash values are not available


Can't be amended if your coverage needs change

When your coverage needs adjust, your coverage amount or term length can too.

What is Term Life Insurance?

Term life insurance is the most affordable way to protect your family's financial security if something happens to you. It replaces your income and helps ensure that the ones who depend on you can support themselves in your absence.

Term Life insurance provides coverage for a specific period of time. Because you only pay for the coverage for as long as you need it, term insurance is considered more affordable than whole life insurance.

Who can buy term life insurance?

Most people between the ages of 18 and 80 can purchase term life insurance. It's possible for cancer survivors, diabetics and individuals who take medications for cholesterol, blood pressure and other conditions to obtain coverage.

How does term life insurance work?

You can purchase term life insurance for 10, 15, 20 or 30 years. As long as you pay your premiums on time, your policy will remain active. If something happens to you while the policy is active, your beneficiary will receive a death benefit for the amount of the policy.

Why are so many online quotes inaccurate?

Many instant online quotes are not accurate because they're based on very little personal information. Your health history and a number of personal factors are utilized to produce more accurate quotes. This is why it is important to speak to a licensed professional. Different companies have different prices and also can specialize in favorable rates for different risks. We can help!

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Healthcare Reform Compliance

We know that understanding, planning for, and complying with Health Care Reform legislation (the Patient Protection and Affordable Care Act, or PPACA) will continue to be of critical importance to employers. Further, ongoing compliance with an extensive list of other health and welfare benefits acronyms and statutes (including ERISA, COBRA, HIPAA, USERRA, and ADEA) are essential to your business success. Our resources and depth of experience can help bring your employee benefits program into compliance economically and prudently, ensuring that your benefits program structure, procedures and policies meet current and future legal requirements.

Key Compliance Topics of Concern to Employers

  • Health Care Reform Planning and Compliance

  • Wellness Programs and Health Risk Assessments (HRA)

  • SPD (Summary Plan Description)

  • SMM (Summary of Material Modification)

  • SBC (Summary of Benefits and Coverage)

  • Uniform Glossary

  • Health Reimbursement Accounts

  • Health Savings Accounts

  • Flexible Spending Accounts

  • Form 5550 Filing

  • Summary Annual Report

  • HIPAA Privacy and Security


  • Medicare Part D Notices

  • Medicare Secondary Payer Provisions

  • CHIPRA Notices (Children's Health Insurance Program)

  • USERRA Notice (Uniformed Services Employment and Reemployment Rights Act)

  • WHCRA Notice (Women's Health and Cancer Rights Act)

  • NMHPA Notice (Newborns' and Mothers' Health Protection Act)

  • Spousal Carve-Out Provisions

  • FMLA (Family and Medical Leave Act)

  • QMCSO (Qualified Medical Child Support Order)

  • Leave of Absence Policies

  • Human Resource Consulting

Doctor Network Search

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