
Life Insurance

Written By Will O'Hara 6/24/2025
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What is Life Insurance?
Final Expense
Term Life
Annuities
Retirement Planning
Key Points
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People need different types of life insurance for different times in their lives
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Term Life is a great option for young families
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Final Expense is often used to cover funeral expenses and any lingering debts
What is Life Insurance?
Life Insurance protects a policy owners loved ones (beneficiaries) in the event of their passing. There are many different types of life insurance, each best suited for a specific time in your life.

Final Expense
Final Expense, sometimes referred to as "funeral insurance", is a type of whole life insurance designed for older adults who would like to help cover their funeral expenses. It usually offers a relatively low monthly premium for a benefit that is around the cost of the average funeral in their area.
Like most types of life insurance, the sooner you get your policy, the more likely you are to pay a lower premium for more benefit.
Full Article: Final Expense Insurance

Term Life Insurance
Term Life Insurance is a type of life insurance that lasts for a predetermined amount of time known as a "term". The benefit will be paid out if the policy owner passes during the term. There is usually no benefit after the term unless the policy has been renewed.
Term Life tends to have a high payout relative to its' monthly premiums. This option is usually best for young families who want to cover their family without breaking their monthly budget.
Full Article: Term Life Insurance

Annuities
An annuity is an investment option that can provide a guaranteed income for an individual or their spouse throughout their retirement. It is a great option for those looking for conservative investment options or want to manage their income as they age.
Retirement Planning
We partner with the great folks at Retirable to help our clients navigate their finances in retirement. Retirable is a company of fiduciary advisors that give all clients of NJ Life And Health a complimentary financial plan. Retirable's mission is to offer financial and retirement planning to everyone, regardless of their financial situation.
Learn More: Retirable Partnership
About the Author
Will O'Hara is a licensed life and health insurance broker and Managing Partner of NJ Life and Health. He has personally helped hundreds of people with their Medicare and life insurance needs across several states.