Life insurance is a financial contract between a policyholder and an insurance company. In exchange for regular premium payments, the insurer promises to pay a lump sum—called a death benefit—to your chosen beneficiary when the insured person passes away.
The main purpose: to protect your loved ones from financial hardship and give you peace of mind.
What Is Life Insurance?
When you buy life insurance, you’re transferring the financial risk of your death to the insurance company. Your policy spells out the coverage amount, premium schedule, and any extra benefits.
Some policies also include living benefits, which let you access part of your coverage while you’re alive if you experience a terminal illness, critical illness, or another qualifying life event.
Types of Life Insurance
There’s no “one-size-fits-all” policy—different types are built for different goals.
Term Life Insurance
- Coverage for a set time period (e.g., 10, 20, or 30 years)
- Often the most affordable way to protect income, debts, and major expenses
Read more about term life insurance →
Permanent Life Insurance
- Designed to last your entire lifetime
- Includes whole life and various forms of universal life insurance
Whole Life vs Term Life
- Whole life never expires as long as you pay premiums and builds guaranteed cash value.
- Term life is pure protection for a fixed period with no cash value.
Compare whole life vs term life →
Universal Life Insurance
Universal life (UL) is permanent coverage with flexibility in premiums and death benefits. However—not all UL products are equally dependable.
Traditional interest-sensitive UL policies depend on market interest rates. When rates stay low, these policies can underperform, leading to higher premiums or reduced benefits. For most people, we recommend more predictable UL designs:
Guaranteed Universal Life (GUL)
- Provides lifetime coverage at the lowest possible permanent cost
- Premiums and death benefits are locked in for life
- Often called “term insurance that never expires”
Indexed Universal Life (IUL)
- Cash value growth tied to a market index (like the S&P 500), with downside protection
- Flexible premiums and the potential for tax-advantaged cash value growth
- Common for retirement income planning or supplemental savings
Final Expense Life Insurance
Final expense life insurance is designed to cover burial costs, funeral expenses, and other end-of-life bills. It’s typically easier to qualify for than larger policies and can be a good fit for seniors or those with health challenges.
Learn about final expense insurance →
Who Needs Life Insurance?
Life insurance can make sense for:
- Parents with dependent children
- Homeowners with a mortgage
- Business owners with partners or key employees
- Anyone wanting to cover final expenses or leave a legacy
How Much Life Insurance Should I Get?
The right amount depends on your debts, income replacement needs, family size, and future expenses. Many people consider:
- Mortgage or rent
- Ongoing living expenses
- College costs for children
- Funeral and final expenses
Where We Serve
We work with clients across the United States and are licensed in over 30 states. Whether you’re in Michigan or miles away, we can meet by phone, Zoom, or in person to find coverage that fits your needs.
Our local service areas include Kalamazoo, Portage, Mattawan, Vicksburg, Plainwell, Otsego, and surrounding Michigan communities.
Serving Kalamazoo and Nearby Communities
Maple Valley Insurance Group proudly serves families across Kalamazoo and surrounding Michigan towns with tailored life insurance solutions. Explore our local service pages to learn more:
- Life Insurance in Kalamazoo, MI
- Life Insurance in Portage, MI
- Life Insurance in Mattawan, MI
- Life Insurance in Vicksburg, MI
- Life Insurance in Plainwell, MI
- Life Insurance in Otsego, MI
Trusted National Coverage, Local Expertise
We partner with all top-rated national insurance carriers, which means you’re never limited to a single company’s offerings. Our job is to compare policies side by side, explain the pros and cons, and help you make a confident choice.
“We live in Florida but also have a home in Michigan. Working with Maple Valley Insurance was easy and stress-free. Mike was able to find us the insurance we were looking for.” – A. Tyler, Hobe Sound, FL
Talk to an Independent Life Insurance Expert
📞 Call 269-244-3420 for your free consultation—our expertise never costs you a nickel.