What Is Life Insurance?

Life insurance is a contract that pays a lump sum of money—called a death benefit—to your chosen beneficiaries when you pass away. This money can be used to replace lost income, cover final expenses, pay off debts, or keep your family’s financial goals on track.

It’s not about planning for the worst—it’s about being prepared for the unexpected so your loved ones aren’t left struggling.

What Does Life Insurance Do?

✔️ Replaces income for your family after you're gone
✔️ Pays off mortgages, debts, or college tuition
✔️ Covers funeral and burial costs
✔️ Provides a financial cushion for your spouse or children
✔️ Leaves a legacy for your loved ones or favorite cause

Types of Life Insurance:

We help you choose the right plan based on your needs, budget, and long-term goals. The most common options are:

Term Life Insurance

✅ Affordable coverage for a set number of years (10, 20, 30, etc.)
✅ Great for income replacement or covering debts while raising a family
✅ No cash value, just pure protection

Whole Life Insurance

✅ Permanent coverage that lasts your entire life
✅ Builds cash value over time
✅ Higher premiums, but fixed and guaranteed

Universal Life Insurance

✅ Flexible coverage and payment options
✅ Builds cash value
✅ Can adjust coverage as your life changes

Not sure which one is right for you? 

That’s what we’re here for.  At Lumpkin’s, we’ll take the time to explain your options in plain English and help you choose the plan that fits your life—not just your budget.