UNDERSTANDING YOUR OPTIONS
Life Insurance Doesn't Have to Be Complicated.
You don't need to understand every type of policy before talking with us. Here's a simple introduction to some of the options you may hear about.
Term Life Insurance
Coverage designed for a specific period of time. Term insurance is often considered when someone wants significant death-benefit protection during certain years or financial responsibilities.
Universal Life Insurance
Permanent life insurance that may provide flexibility in areas such as premiums or death benefits, depending on the policy and how it is funded.
Final Expense Insurance
Life insurance generally designed around a smaller death benefit that may be used to help address funeral, burial, and other final expenses.
Not sure which one applies to you? That's exactly why we start with your needs rather than asking you to choose a product first.
Whole Life Insurance
A form of permanent life insurance designed to remain in force for life when applicable policy requirements are met. It typically includes guaranteed elements and a cash-value component, subject to the policy terms.
Indexed Universal Life
A type of universal life insurance in which certain policy values may be credited based in part on the performance of an external market index, subject to policy terms, caps, floors, participation rates, charges, and other limitations.
How Much Life Insurance Do I Need?
There isn't a universal number. The amount someone may consider depends on what they want the coverage to accomplish and what financial resources already exist.
Income
Mortgage or Housing Costs
Children & Dependents
Debts
Education Goals
Existing Life Insurance
Existing Savings & Assets
Final Expenses
Business Obligations
Rather than relying only on a generic multiple of income, we prefer to look at the actual financial need.
FOR BUSINESS OWNERS
Your Business May Depend on People, Too.
For a business owner, life insurance conversations can extend beyond personal family protection. The loss of an owner or key person can create financial and operational challenges for a business.
Key Person Considerations
Business Debt & Obligations
Buy-Sell / Ownership Planning
Succession Considerations
Protecting Families of Business Owners
Business planning can involve legal, tax, financial, and insurance considerations. We encourage business owners to coordinate with their appropriate professional advisers when needed.
Protecting Family Income
Help provide financial resources for people who depend on your income.
Final Expenses
Consider funds that could help with funeral and other end-of-life expenses.
Start With the Reason, Not the Product.
There isn't one life insurance solution that makes sense for everyone. Before talking about policy types or coverage amounts, we want to understand what you're trying to protect or accomplish.
Mortgage & Financial Obligations
Consider how housing, debts, and other financial responsibilities could be handled.
Legacy & Long-Term Planning
Life insurance may be considered as part of broader financial or legacy goals.
Children & Future Expenses
Plan around years of financial dependency, education, childcare, and other family goals.
Business Protection
Business owners may have additional considerations involving ownership, key people, succession, or business obligations.
THE PATTERSON COLLECTIVE APPROACH
Education Before Pressure.
Life insurance is personal. We don't believe the conversation should begin with pressure to buy a particular product.
We start by understanding what matters to you, what you're trying to protect, and what you're comfortable spending. From there, we can help explain available options and the differences between them so you can make a more informed decision.
Understand the Need
Start with your family, responsibilities, goals, or business.
Explain the Options
Make policy types and important differences easier to understand.
Explore Available Solutions
Consider appropriate options based on your needs, budget, eligibility, and underwriting.
Ready to Start the Conversation?
Choose whichever way feels easier.
Want to Learn More First?
Visit Articles & Insights for straightforward explanations and resources about life insurance and other insurance topics.
Life insurance products, features, premiums, eligibility, and availability vary by insurance company, product, jurisdiction, underwriting, and individual circumstances. Coverage is not effective merely by submitting a website form, scheduling an appointment, or requesting a quote. Policy illustrations and product information should be reviewed carefully. Actual policy terms and issued policy documents control.