Life Insurance
Life insurance can help protect the people who depend on you. Whether you need term coverage or permanent whole life insurance with cash value, Chime Insurance Group explains available options for your family and budget.
Request an insurance quote or contact a licensed advisor.
Available Life Insurance options
- Term Life Insurance
Coverage for a set period — 10, 20, or 30 years. Pays a tax-free death benefit to your beneficiaries if you pass away during the term. Most affordable type of life insurance.
May fit: Young families, mortgage protection, income replacement, maximum coverage on a budget
- Whole Life Insurance
Permanent coverage that never expires as long as premiums are paid. Builds cash value over time that you can borrow against. Premiums are fixed for life.
May fit: Lifelong coverage needs, estate planning, tax-advantaged cash value accumulation
- Universal Life Insurance
Flexible permanent coverage that allows you to adjust premiums and death benefits over time. Includes a cash value component that earns interest.
May fit: Business owners, high-income earners who want flexibility and permanent coverage
- Indexed Universal Life (IUL)
A type of universal life where cash value growth may be linked to a market index. Caps, participation rates, floors, fees, and other terms vary by policy.
May fit: Those who want permanent coverage with growth potential and a safety net
- Simplified Issue Life Insurance
A medical exam may not be required for some applicants; requirements, timing, and coverage amounts depend on the policy and underwriting.
May fit: Those who want to skip the medical exam or need faster coverage
Life Insurance considerations
- Tax-free death benefit for your beneficiaries
- Replace lost income for your family
- Pay off your mortgage or other debts
- Fund your children's education
- Cover final expenses and funeral costs
- Leave a legacy or charitable gift
- Business continuation and key-person coverage
- Cash value growth (permanent policies)
Frequently asked questions
How much life insurance do I need?
A common rule of thumb is 10–12x your annual income. More precise calculations factor in your mortgage, debts, dependents, and future income needs. Our advisors provide a free needs analysis.
How much does life insurance cost?
Rates vary by age, health, coverage amount, policy type, term, and underwriting. An advisor can explain which factors affect a quote, but no price is guaranteed before an application is reviewed.
Can I get life insurance with a health condition?
Some policies may be available for applicants with health conditions. Options, exclusions, pricing, and underwriting requirements vary by policy and applicant.
What is the difference between term and whole life?
Term life covers you for a set period at a lower cost. Whole life is permanent and builds cash value at a higher premium. Most people with income-replacement needs benefit most from term life.
Do I need a medical exam to get life insurance?
Some policies use health questions without an exam, while others require medical records or an exam. Requirements vary by policy, applicant, and underwriting.
How long does it take to get approved?
Timing depends on the product, application, medical requirements, underwriting, and carrier. No approval timeline is guaranteed.