Life insurance guide
Life Insurance Agency
An independent life insurance agency can compare policies from several insurers instead of just one. Here’s how that works, what types of coverage we can help with, and what to expect when you apply.
Blake Insurance Group is an independent agency serving clients by phone, email, and online in states where we are licensed; coverage depends on the insurer, the policy, and underwriting.
Request life insurance quotes
Tell us what you would like to cover, and a licensed agent will follow up with options available to us. Submitting the form does not bind coverage.
If the form does not load, call 888-387-3687, Monday through Friday, 9:00 to 5:00, or email info@blakeinsurancegroup.com.
How working with an agency works
- We talk through what you want the coverage to do.
- We compare options from insurers available to us.
- You apply; the insurer underwrites and sets the final price.
- You review the policy during the free-look period.
Main types of life insurance
| Type | How it works |
|---|---|
| Term | Coverage for a set number of years; no cash value |
| Whole life | A fixed amount of coverage for your entire life, with cash value |
| Universal life | Permanent coverage that combines insurance with a cash account and flexible premiums |
| Variable life | Cash value invested in separate accounts; returns aren’t guaranteed |
Source: NAIC. Final expense policies are usually small whole life policies.
What affects the price
Life insurance prices depend mostly on your age, health, tobacco use, sex, the coverage amount, and, for term policies, the number of years. The 2026 Insurance Barometer from LIMRA and Life Happens found about three-quarters of consumers overestimate what life insurance costs; adults under 31 guessed a $250,000 20-year term policy cost about five to six times what it does.
How to compare quotes
- Decide how much coverage you need. Consider income replacement, debts, a mortgage, and final expenses.
- Choose term or permanent. Term usually costs least per dollar of coverage; permanent lasts for life and builds cash value.
- Compare the same coverage. Use the same face amount, term, and riders.
- Check financial strength. Look up current AM Best ratings.
- Use the free look. Most states give at least 10 days to cancel for a refund.
The life insurance market
LIMRA reports that U.S. individual life insurance premium from new sales set a record above $17.5 billion in 2025, with whole life at 37% of premium, indexed universal life 25%, term 17%, variable universal life 15%, and fixed universal life 6%. The 2026 Insurance Barometer from LIMRA and Life Happens found 52% of Americans own life insurance, 38% of adults say they need it or need more, and about three-quarters overestimate its cost.
Buying without a medical exam
Many insurers now offer accelerated underwriting, which can approve some applicants without a medical exam or lab tests. An NAIC meeting presentation describes it as full underwriting that uses data such as prescription history, driving records, and MIB reports, with decisions in about 48 hours instead of two to 12 weeks. Approval isn’t guaranteed, and it’s different from guaranteed-issue coverage.
Free look and contestability
Most states give you a free-look period, often 10 days and up to 30 days in some cases, to cancel a new policy for a refund; the NAIC’s state chart lists 10 days for individual life in many states. For the first two years, insurers can generally contest a claim for a material misstatement on the application, and a suicide in that period typically limits the benefit to a refund of premiums, according to the North Carolina and South Carolina insurance departments. Answer application questions completely.
Final expense coverage
Final expense insurance, also called burial insurance, is a small permanent life insurance policy meant to pay for a funeral and other end-of-life bills. Funeralwise puts typical face amounts at $1,000 to $25,000, sometimes up to $50,000. The death benefit goes to the beneficiary you name, who can use it for anything: the funeral, medical bills, or debts.
A Life Insurers Council survey of 30 insurers found about 1.3 million final expense policies sold in 2025, with an average face amount of $15,344 for simplified-issue and $11,299 for guaranteed-issue policies. Simplified issue made up 76% of sales. The council notes its survey isn’t a complete view of the market.
Mortgage protection life insurance
Private mortgage insurance (PMI) protects your lender, not your family, and lenders usually require it when you put down less than 20%. Mortgage protection life insurance is different: it’s usually decreasing or level term life coverage that pays your beneficiary if you die, so the family can pay off or keep paying the mortgage. Decreasing term coverage falls over time to track a shrinking loan balance; level term keeps the same benefit.
Term vs. permanent
The NAIC describes term life as coverage for a set period, whole life as a fixed amount of coverage for your entire life with cash value, universal life as permanent coverage combined with a cash account, and variable life as coverage whose cash value is invested in separate accounts without guaranteed returns. Term usually costs less for the same death benefit; permanent coverage costs more but lasts as long as premiums are paid.
Social Security survivor benefits
Social Security pays a one-time lump-sum death payment of $255 to a surviving spouse who lived with the deceased, or in some cases to an eligible child, and you must apply within two years of the death. Monthly survivor benefits may go to a widow or widower from age 60 (50 if disabled), to a widow or widower caring for the deceased’s child under 16 or disabled, to unmarried children under 18 (19 if still in high school), and to dependent parents 62 or older. The $255 payment won’t cover much of a funeral, which is one reason people buy final expense coverage.
Long-term care costs and coverage
| Care | Annual median | Change |
|---|---|---|
| Nursing home, private room | $129,575 | +1% |
| Nursing home, semi-private room | $114,975 | +2% |
| Assisted living | $74,400 | +5% |
| Non-medical in-home care (44 hours a week) | $80,080 | +3% |
| Adult day health care | $24,700 | −5% |
Source: Genworth/CareScout 2025 Cost of Care Survey.
Medicare doesn’t pay for long-term custodial care, and Medigap generally doesn’t either. The NAIC’s shopper’s guide explains that long-term care policies usually pay once you need help with two of six activities of daily living or have a cognitive impairment, after an elimination period such as 30, 60, or 90 days. Hybrid life policies with long-term care riders reduce the death benefit when you use the care benefit.
Simplified vs. guaranteed issue
| Simplified issue | Guaranteed issue | |
|---|---|---|
| Medical exam | Usually none | None |
| Health questions | Yes; answers can lead to a decline | Generally none |
| Database checks | The insurer may check prescription and MIB records | Generally none for approval |
| Death benefit in early years | Often full from day one if approved | Usually graded for the first two to three years |
| Typical cost | Lower for healthy applicants | Higher for the same face amount |
Sources: Funeralwise, ACLI, and sample policy filings. Terms vary by insurer and state.
Critical illness insurance
Critical illness insurance, also called specified disease insurance, generally pays a one-time lump sum if you’re diagnosed with a covered condition such as cancer, a heart attack, or a stroke. The Maryland Insurance Administration notes the amount is fixed and not tied to your medical bills, that these plans aren’t designed to pay the full cost of care or replace major medical coverage, and that they may exclude preexisting conditions. You can use the money for anything, such as deductibles, travel for treatment, or lost income.
Hospital indemnity insurance
Hospital indemnity insurance pays a set amount, such as $100 a day, while you’re hospitalized, whatever the actual bill; fixed indemnity plans may also pay set amounts for services such as office visits. The Maryland Insurance Administration notes these plans aren’t designed to pay full costs, don’t count as minimum essential coverage, and may exclude preexisting conditions.
What an independent agency does
An independent insurance agency is licensed to sell policies from several insurance companies. Instead of quoting one company's products, an independent agent can compare options from the insurers the agency represents, explain the differences in coverage, and help you re-shop at renewal. The insurance company, not the agent, makes underwriting and claim decisions.
Blake Insurance Group is an independent agency. We work with clients by phone, email, and online in states where we are licensed, and we will tell you which insurers we can quote for your situation.
How we work
Blake Insurance Group serves clients by phone, email, and online in states where we are licensed. The insurers and plans we can offer depend on our appointments and your location; a company named on this page may not be available through us.
How to verify an insurer or agency
Before buying through any website or app, confirm who is selling you the policy and who will issue it:
- Find the licensed agency or insurer named in the site's footer, terms, or license page.
- Look up the agency or producer on your state insurance department's license search, or through the National Insurance Producer Registry (NIPR).
- Look up the insurer on your state insurance department's company search to confirm it is authorized in your state.
- Save the insurer's name and policy number once issued, since that is who handles claims.
A legitimate service will make this information easy to find. Be cautious if you cannot identify the licensed entity.
Sources
We checked the facts on this page against the sources below in October 2026. Plans, prices, and rules change, so confirm current terms before you buy.
- NAIC: Life insurance (Nov. 2025)
- LIMRA: U.S. individual life insurance sales record in 2025 (Mar. 2026)
- LIMRA and Life Happens: 2026 Insurance Barometer
- NAIC presentation: Accelerated underwriting (Dec. 2019)
- NAIC: Life insurance disclosure provisions by state (chart LI-30)
- North Carolina Department of Insurance: Life insurance FAQs
- South Carolina Department of Insurance: Life insurance FAQ
- Funeralwise: Final expense insurance (Aug. 2026)
- LOMA/LIMRA Life Insurers Council: Final expense sales in 2025 (July 2026)
- ACLI letter to the Interstate Insurance Product Regulation Commission (Aug. 2025)
- Simplicity LifeLink: Life insurance quotes
- Genworth/CareScout: 2025 Cost of Care Survey (Mar. 2026)
- NAIC: A Shopper's Guide to Long-Term Care Insurance
- Medicare.gov: Long-term care
- Maryland Insurance Administration: Specified disease and critical illness
- Maryland Insurance Administration: Hospital fixed indemnity
- SSA: 20 CFR 404.390, lump-sum death payment
- SSA FAQ: Lump-sum death payment
- SSA Blog: Understanding survivors benefits
- HelpWithMyBank.gov (OCC): Private mortgage insurance
- Washington Insurance Commissioner: Private mortgage insurance
- IRMI: Decreasing term life insurance
- American General graded death benefit whole life: sample policy
- NOLHGA: Coverage levels by state (as of June 1, 2025)
- NAIC: How to use the Life Insurance Policy Locator (May 2025)
What to have ready for a life insurance quote
These details help an agent quote accurately.
- Age and date of birth. Pricing is set by age.
- Health and medications. For underwriting.
- Tobacco use. Rates differ for tobacco users.
- Coverage amount and term. How much and for how long.
- Beneficiaries. Who will receive the money.
Life insurance agency FAQs
How much life insurance do I need?
Add up income your family would need, debts, a mortgage, and final expenses, minus savings and existing coverage.
Is term or whole life better?
Neither is better for everyone. Term usually costs less; whole life lasts for life and builds cash value.
Can I get life insurance without a medical exam?
Often. Accelerated underwriting, simplified issue, and guaranteed issue policies can skip the exam.
How long is the free look?
Often 10 days, and longer in some states or situations.
Related guides
Partner quote options
Sponsored
Blake Insurance Group works with the partners below. Each link opens the partner's own website, where its terms, eligibility rules, and privacy policy apply. Blake Insurance Group may be compensated if you buy through these links.
- Life insurance quotes (Simplicity LifeLink): Life insurance quotes through Simplicity LifeLink.
Important information
Compensation. Links in the partner section of this page are sponsored, and Blake Insurance Group may be paid if you make a purchase. Sponsored placement does not affect the other information on this page.
Independent agency. Blake Insurance Group LLC is an independent insurance agency. Licensed insurance producer NPN 16117464. Licensed states: AZ, AL, TX, CA, NY, OH, FL, NC, VA, GA, OK, NM, IA, KS, MI, NE, SC, SD, WV, IL, NJ, PA, TN, and WA. Which insurance companies we can quote depends on our current appointments, the product, and your state. Mentioning a company on this page does not mean we represent it.
Policy details. Figures on this page were checked against the listed sources in October 2026. Benefits, graded periods, and prices vary by insurer, state, age, and health; the policy controls.
Coverage terms. Descriptions are general. The policy contract controls what is covered.
Availability. Coverage, prices, and eligibility vary by company, state, and applicant, and are subject to underwriting. The issued policy controls.
Your next step
Request a quote, and a licensed agent will compare life insurance options available to us for your age, health, and budget.
