How to Protect Your Family with the Right Life Insurance Policy
Life insurance isn’t just about death benefits—it’s about protecting your family’s future. Whether you’re securing income for your spouse, paying off a mortgage, funding education, or covering final expenses, the right policy can give your loved ones financial stability when they need it most.
But with so many options—term, whole life, indexed universal life—how do you know what’s best for your situation? That’s where Diversified Insurance Brokers comes in. We evaluate your goals, budget, and health profile to match you with the most competitive options from top-rated carriers.
For example, a healthy 45-year-old male could get a $1,000,000 20-year term policy for less than $100/month. Or, if you’re looking to build cash value or create tax-free retirement income, permanent life options might be a better fit.
Don’t leave your family unprotected or overpay for coverage you don’t need. Let us help you design a policy that truly works for you.
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Ready to explore insurance and annuity options that offer guaranteed income, principal protection, disability, life insurance, Social Security and Medicare reviews, and long-term financial growth? Let the expert advisors at Diversified Insurance Brokers help you find the right strategy for your retirement goals.
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FAQs: Choosing the Right Life Insurance Policy
How do I know which type of life insurance policy I need?
The right policy depends on your goals—income replacement, debt payoff, legacy planning, business protection, or covering final expenses. Term life is ideal for temporary needs, while permanent life insurance works best for long-term protection and cash value growth. Our guide on life insurance in retirement can help you compare long-term uses.
What factors should I consider before choosing a policy?
You should consider your budget, the length of coverage you need, your age and health, whether you want cash value accumulation, and whether your beneficiaries need temporary or permanent financial support. Reviewing common life insurance mistakes can also help you avoid selecting the wrong policy.
Is term life insurance enough for most families?
Term life is often enough for income replacement during working years, especially for families with young children or mortgages. However, it does not build cash value and expires after the term. If you want lifelong coverage or tax-advantaged cash value, you may prefer a permanent policy such as whole life or indexed universal life (IUL).
When does permanent life insurance make more sense?
Permanent life insurance makes sense when you want lifetime coverage, cash value growth, tax-advantaged access to funds, or support for estate or retirement strategies. It is often used in business planning, retirement income planning, and long-term wealth transfer strategies.
How much life insurance coverage should I get?
Many advisors recommend 10–20× your annual income, but needs vary. Consider debts, children’s education costs, income replacement needs, and long-term financial goals. For a quick comparison of premiums, use our instant life insurance calculator.
Can I own more than one life insurance policy?
Yes. Many people combine a large term policy for income protection with a smaller permanent policy for lifelong coverage, cash value, or final expenses. This strategy can provide strong protection while balancing premium costs.
How does my health affect the policy I qualify for?
Your health significantly affects both approval and pricing. Conditions like high A1C, heart issues, or prior declines may still qualify through specialty carriers. See our page on life insurance with pre-existing conditions for more details.
What if I was declined for life insurance before?
You can still qualify. Different insurers assess risks differently, and underwriting guidelines vary widely. Reviewing our page on life insurance with a prior decline may help you understand your next steps.
Should I compare multiple carriers before buying?
Absolutely. Rates and underwriting vary by company. Comparing multiple carriers ensures you get the best value and the right fit for your health, budget, and goals. You can review options instantly using our life insurance calculator.
About the Author:
Jason Stolz, CLTC, CRPC, is a senior insurance and retirement professional with more than two decades of real-world experience helping individuals, families, and business owners protect their income, assets, and long-term financial stability. As a long-time partner of the nationally licensed independent agency Diversified Insurance Brokers, Jason provides trusted guidance across multiple specialties—including fixed and indexed annuities, long-term care planning, personal and business disability insurance, life insurance solutions, and short-term health coverage. Diversified Insurance Brokers maintains active contracts with over 100 highly rated insurance carriers, ensuring clients have access to a broad and competitive marketplace.
His practical, education-first approach has earned recognition in publications such as VoyageATL, highlighting his commitment to financial clarity and client-focused planning. Drawing on deep product knowledge and years of hands-on field experience, Jason helps clients evaluate carriers, compare strategies, and build retirement and protection plans that are both secure and cost-efficient.
