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Life insurance provides financial security by replacing lost income and covering expenses. Whether it keeps paying the mortgage, maintains a current standard of living, pays off debts or pays for college, the life insurance you choose can be there when it’s needed most by your loved ones.

If you’re looking for the affordability of term insurance, the lifelong protection and cash value of permanent insurance, or a combination of both, we have options to fit your needs and budget.

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Talk to one of our life insurance agents at 224-529-0095 or fill out the form below an we’ll contact you to review your options. You can also try our online quote tool to get a quick quote.

Get the assurance of knowing your loved ones will be protected. We’ll help you decide which coverage is right for you before getting a life insurance quote.

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Our galaxy of companies makes shopping for the best deal easy.  Our life products–some of them currently returning 8% tax-free–enable you to save for college tuition, retirement, or for proper care in old age.  They can be designed to provide a steady stream of income in the event of a disability or to cover assisted-living or nursing-home expenses.  They can protect your mortgage, the income of a breadwinner, and keep you in your home no matter what happens.  Because value accumulates tax-free, Pixel life policies are used to pass on money to the next generation that would otherwise face taxation. 

How does life insurance work?

Once upon a time, life insurance saved people’s homes and standard of living by providing a lumpsum payment upon the decease of a breadwinner. Today, life insurance policies do much more. They can cover you in case you were ever too ill to work, providing you with a steady stream of income. A portion of the premium can go into a savings account inside the policy, and currently a number of these are earning 8% tax-free. If you were ever disabled, you could draw upon not only this account but the death benefit as well. As such, it is not at all uncommon for life policies to be used to pay for long-term care in assisted-living or nursing-home facililties. So life insurance today protects a family from losing their standard of living whether the insured becomes ill or passes away. Life policies are being given as gifts to children. This is because the younger you are, the lower the premium. They are given with the idea of taking worry out of a child’s life. So a single $10,000 deposit into a life insurance policy at the current rate of 8% returns $50,338 in 21 years (for college tuition), $1,487,798 in 65 years (for retirement), and $4,719,548 in 80 years (for care in old age). The life insurance contract, properly designed by an experienced agent, is one of the best values in the entire insurance industry.

What does life insurance cover?

Some people will buy term insurance to cover a mortgage. So, for instance, a typical mortgage runs 30 years. To make sure that a family doesn’t lose its home were a breadwinner ever to become ill or pass away, a policy to pay off the mortgage is purchased for a term–in this case, perhaps, 30 years. Because term insurance only runs for designated periods of time, it is very inexpensive (sometimes only dollars a month). A term policy with what is called an “accelerated benefit” may be a good choice. It covers the insured at death, but also in case of a chronic, critical or terminal illness. It provides a hybrid policy: life- disability-income protection. A permanent life insurance policy (“universal” or “whole”) runs not for a designated period but for a lifetime. A permanent policy, too, can be designed to protect income, to provide long-term care in old age, to offer an accelerated benefit. Life insurance covers a household against a loss of income or of the means to live at an acceptable standard of life.

Different types of life insurance

Term Life Typically Covers:

  • A specific period of time
  • Could help replace income
  • May cover some other expenses
  • May be eligible for a No-Med Exam policy

Instead of a medical exam, this option asks a number of detailed health, financial, and hobby questions.

Whole or Universal Life Typically Cover:

  • Coverage for your lifetime, as long as policy terms are met
  • Help with income replacement
  • Providing supplemental income
  • Assisting with estate planning
  • May offer a side cash fund that can build over time
  • You can read more about this on our blog post:  Whole vs Term
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What is whole life insurance?

Life insurance is a way of helping your family cope financially when you die. It is intended to provide help to your loved ones when they can’t rely on your salary or income any longer. The pay-out can be used to clear debts, pay off the mortgage or just cover everyday expenses. It could even pay for your funeral if you haven’t set anything aside for that.

what is term life insurance?

Term life insurance is pure insurance coverage.  You are paying for nothing else, only the death benefit.  So, for instance, were you to go to a popular online quotation portal and enter your basic information, the quote could well read something like this:  

Because term only covers you for a defined period of time (i.e., for a term), it is less expensive.  Permanent insurance (whether called “whole” or “universal”) covers you for as long as you live.  And it is more expensive as a result.  If you own a permanent life insurance policy, a death benefit will be paid out.  In fact, people who want to leave an estate intact to the next generation will often use a permanent life insurance policy for the purpose because the death benefit is paid out tax-free.  This obviously entails a huge savings.  But there is another reason why permanent insurance comes with a higher premium.  An amount in excess of the cost of the insurance (or what you would pay for a term policy) goes into a savings account of sorts inside the policy.  As you pay your premium, money accumulates in this account as “cash value.”  insurance companies are often extremely generous in the interest rates they apply to cash value.  It is not uncommon today for these accounts to grow at 8%.  This is a fantastic return, especially when one considers that cash accumulation in this account is tax-free, just like the death benefit.  

How much life insurance do I need?

There are a number of factors to consider in the determination of the amount of life insurance you need.  But rather than puzzling over the matter over a pad of paper, it is a good idea to use what is called a “life insurance calculator.” You want to be sure to cover any debt for which other people might find themselves responsible.  If you have, for instance, outstanding student loans, it would be a good idea to take out a term life insurance product to cover the period of time it seems reasonable for paying the balance off.  In this case, you might want to consider what is called “deceasing term insurance.”  This is life insurance for which the death benefit declines with each passing year.  In this way, you are not paying for more life insurance than you need.  Term life insurance tends to be very inexpensive, sometimes as little as $10/month.  

 

If you are without debt–if you have no mortgage or credit card debt–you still have to consider final arrangements. It isn’t a pleasant thought, but you will want to think about who will have to attend to burial expenses in the event of your death.  Whatever this amount turns out to be (and $20,000 is probably a fair estimate), you will want to have a life insurance policy in place for that amount.  One very good reason for carrying life insurance (whether term or temporary coverage or permanent or lifetime protection) is so that no one suffers financially because of your death or disability.  I mention disability only because life insurance policies come with living benefits.  You can, for instance, buy a universal or term life policy that pays a designated person (including yourself) if you happen to become incapacitated.  As such, when calculating how much life insurance protection you need, consider how many weeks you could go without a paycheck if you were disabled.  A certain percentage of the death benefit, up to 100%, can be paid out tax-free during the period of your disability.  In this case, you would have to consider how much money you would need to live upon for six months or a year, or however long the disability prevents you from working.  

If you plan to marry or are already married, you will need enough life insurance coverage so that the loss of your income and daily assistance can be compensated for.  If your spouse does not work, you will probably need more life insurance.  If you plan on having or already have children, you will need enough to support your spouse and the children.  If the children are to attend college, you will want to increase the death benefit on your life insurance policy accordingly.  Insurance, especially term insurance, is relatively inexpensive, and this is a good thing.  Many people carry millions of dollars worth of insurance.  If you decide to purchase the cheaper term insurance, even if a longer-term policy like 30 years, you will want to consider getting something called a “conversion rider.” This rider, which is an amendment of the insurance contract, enables you to purchase additional insurance at a later time, when you are older and the likelihood increases of a health problem, without undergoing medical evaluation first.  Whatever you decide to do, keep in mind the following principle: Premiums tend to be lowest the younger you are.  Life insurance is not a product to procrastinate on.  If your parents were far-sighted enough to buy a whole life policy on you when you were born, this coverage will stay in place for a lifetime at the very same premium.  There will never be a premium increase.  You will always pay the lowest possible rate.  

There are obviously many other factors to consider when determining the proper level of coverage.  For additional ideas, visit a free online life insurance calculator before you get a quotation for a policy.

Michael Cobzac
Michael Cobzac
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I bought a new car, explored a lot of insurance agencies through the Internet, and honestly I was confused and did not know which one to choose. So, I asked for information to my friends. Fortunately, one of my closest friends suggested me to apply to Pixel Insurance, and they offered me an affordable price. I was surprised that they speak my native language. So, with my positive experience with them, I would recommend them to my friends too.
Alina G
Alina G
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I had a great experience with the insurance agent from Pixel Insurance. I reached them a few days prior to my renewal and they were able to provide even a better price in comparison to the previous company. I received a quote within a few hours for my personal car insurance and even acquired the renter's insurance for a very affordable.
Ciprian M.
Ciprian M.
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Amazing company. Soltan took my info and asked me what I'm looking for and from here she went far and behind looking for the best solution, keeping me informed at my alternatives in order to get a better deal. Thanks
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