LIFE INSURANCE
Protect Your Loved Ones with Comprehensive Life Insurance Coverage
Nobody wants to think about life insurance, but it is one of the most important ways to protect the people who depend on you.
Plan IV helps individuals and families in Troy and throughout Oakland County choose life insurance that fits their long-term financial goals.
What is life insurance?
Life insurance is a contract with an insurance company that provides a tax-advantaged payout (called a death benefit) to your beneficiaries if you pass away. In exchange, you pay regular premiums based on the type of policy you choose.
Who needs life insurance?
You may need life insurance if you:
Have children or other dependents
Are the primary income earner for your household
Carry significant debt such as a mortgage or student loans
Want to leave financial support for a spouse, family member, or business partner
Life insurance helps ensure your family can maintain stability—even if the unexpected happens.
Secure Your Family's Future: Choose Reliable Life Insurance Today
What are the different types of life insurance?
Term Life Insurance
Designed to provide coverage for a specific period—commonly 10, 20, or 30 years. Term life is often the most affordable option and is ideal for income replacement, mortgage protection, or covering years when dependents rely on you most.Whole Life Insurance
A permanent policy that provides lifetime coverage and includes a cash value component. Premiums are typically higher than term life but remain consistent over time.Universal Life Insurance
Another form of permanent coverage that offers flexibility. Universal life policies may allow you to adjust premiums or coverage amounts as your financial situation changes over time.
Choosing the right policy depends on your goals, budget, and long-term plans. That’s where guidance matters.
Helpful Planning Tools
Use these resources to better understand how much coverage you may need:
Census Form (if applicable to family or employer planning)
These tools are a starting point. Once complete, a Plan IV advisor can walk through your results and help translate them into the right coverage strategy.
