Start Protecting Your Future With Life Insurance!
Having the right life insurance policy in place can not only protect your future, but the well being of any loved ones you may leave behind. We offer both term life and whole life insurance allowing us to design a plan that is tailored to your specific needs. Protect your family and their financial future today!
If you’ve had recent life changes such as buying a new home, having kids, or having increased risk of injury at work, life insurance can help protect your loved ones! If your passing would have a negative effect on your family we recommend getting covered. Know that your family will be protected even if you’re not here.
Life Insurance Explained
Life insurance is a form of insurance coverage that pays the beneficiary a sum of money upon the death of the insured or after a predetermined period of time. There’s multiple forms of life insurance with different uses we can utilize. Reach out to us and we can create a plan that is specific to you!
| Feature | Term Life Insurance | Whole Life Insurance | Indexed Universal Life (IUL) |
|---|---|---|---|
| Coverage Length | Temporary (10–30 years) | Lifetime | Lifetime |
| Affordability | Most affordable | Moderate to high | Flexible, varies based on funding |
| Premiums | Fixed for the term | Fixed for life | Flexible (you choose how much to pay) |
| Cash Value | ❌ None | ✅ Yes – guaranteed growth | ✅ Yes – based on market index performance |
| Investment Option | ❌ No | ❌ No | ✅ Yes – tied to index like the S&P 500 (with downside protection) |
| Best For | Families needing budget-friendly protection | People seeking guaranteed lifelong coverage + savings | Those looking for lifetime coverage with growth potential and flexible payments |
| Access to Funds | ❌ No | ✅ Yes – borrow from cash value | ✅ Yes – borrow or withdraw from cash value |
How Does Life Insurance Work?
Life insurance is not as complicated as it sounds. Our team offers expert guidance and education so our clients understand how their policy works. When you know what you’re getting, you can feel confident you’re making the right choice for you and your family.
Monthly Premium
Premiums are the amount you pay, usually on a monthly basis, to keep your policy active. Your premium depends on factors such as your age and health, the type of policy you choose, and the amount of coverage that you want. Premiums are basically a subscription that you pay to receive financial protection from the insurance company. As long as you pay your premiums, your policy stays in effect.
Cash Value (for Permanent Policies)
If you have a whole life or indexed universal life (IUL) policy, part of your premium goes toward building cash value or a savings component that grows over time. You can borrow from your policy’s cash value like a loan, often tax-free. You can use it in retirement, for emergencies, or even to help with a down payment on large purchases. Your cash value can even cover your premium payments in certain instances.
Face Value, or Death Benefit, is the amount your beneficiaries will receive when you pass away. It’s the core purpose of your policy—financial protection for the people you care about most.
Beneficiaries
These are the loved ones (or organizations) you name to receive the death benefit from your policy. You can name your spouse or partner, children and grandchildren, business partners, or your favorite charity.
Tax Benefits of Life Insurance
One of the biggest perks of life insurance is how it can help you protect wealth tax-efficiently. Some policies can help with estate planning or reduce taxable income in retirement. Death benefits are usually tax-free to your beneficiaries. Cash value grows tax-deferred—you won’t pay taxes on it as it grows. Policy loans are often tax-free, if structured properly.
Term Life Insurance
We believe protecting your family’s future shouldn’t be complicated or expensive. That’s why we often recommend term life insurance as a simple, budget-friendly option for individuals and families.
Term life insurance covers you for a set period of time, typically 10, 20, or 30 years, and pays a tax-free death benefit to your loved ones if something happens to you during that time. It’s ideal for:
- Young families needing affordable coverage
- Homeowners who want to protect their mortgage
- Parents planning for kids’ education
- Anyone wanting peace of mind without a hefty premium
Because term life doesn’t include cash value or investment components, it’s one of the most affordable ways to get meaningful coverage when it matters most.
Whether you’re raising a family, paying off a home, or simply looking to protect what you’ve worked hard for, Insurance With Don is here to guide you every step of the way—right here in the Crossroads.
Whole Life Insurance
If you’re looking for permanent life insurance coverage with added financial benefits, whole life insurance might be the right fit for you. We help individuals and families protect their legacy with policies that offer more than just a death benefit—they build value over time.
Whole life insurance covers you for your entire life and provides a guaranteed death benefit for your loved ones as long as your premiums are paid. Whole life also includes a cash value component that grows over time, tax-deferred. You can borrow against it or use it in the future for unexpected expenses, retirement, or even to help fund a child’s education.
Whole life is a great option if you want:
- Guaranteed lifetime coverage
- Fixed premiums that never increase
- A policy that builds cash value over time
- Long-term financial planning options
- To leave a lasting legacy for your family
Whether you’re building generational wealth or just want lifelong coverage with added financial flexibility, Insurance With Don is here to help you understand your options and find the right fit for your goals.
Index Universal Life Insurance
Looking for life insurance that protects your family while also helping you build long-term financial value? Indexed Universal Life (IUL) insurance could be a smart solution. At Insurance With Don, we help our neighbors in the Crossroads understand how IULs can work as both a safety net and a financial tool.
Indexed Universal Life insurance is a permanent policy, meaning it lasts your entire life as long as premiums are paid. But unlike traditional life insurance, an IUL also includes a cash value component that’s tied to the performance of a market index—like the S&P 500.
- Flexible Premiums – You can adjust your payments over time, depending on your needs and budget.
- Market-Linked Growth – Your policy’s cash value can grow based on index performance—without the risk of losing value in a down market.
- Downside Protection – Even if the market drops, your cash value is protected with a guaranteed minimum interest rate.
- Tax-Advantaged Access – You can borrow against or withdraw from your cash value, often tax-free, for retirement, emergencies, or other needs.
Who is IUL a Good Fit For?
- People looking for lifetime coverage and wealth-building potential
- Parents or grandparents planning to leave a legacy
- Business owners and professionals wanting tax-efficient strategies
- Anyone who wants more flexibility and control than whole life offers
Why Use Donahvan as Your Life Insurance Agent?
Insurance brokers have the ability to shop multiple carriers and give you the best pricing and coverage, versus only being able to show you the plans from one carrier (captive agent). By utilizing Donahvan as your Victoria insurance agent you have access to a broker that is in your area, you can meet in person, and receive the best customer service available to you!