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Life Insurance
More than a death benefit — a properly structured life insurance policy is one of the most powerful financial tools available to families and high-income professionals. Kraig has 28 years of experience designing policies that protect and build wealth simultaneously.
KRAIG WORKS WITH PEOPLE JUST LIKE YOU
Protection Built for Every Stage of Life
Life insurance isn’t just a policy; it’s the foundation of your family’s security. Whether you are protecting a new mortgage or a multi-million dollar medical practice, Kraig delivers the specialized strategies needed to ensure your legacy remains intact.
Beyond Protection: The Private Banking Bridge
While the primary purpose of life insurance is protecting those you leave behind, certain specialized policies can also serve as a powerful tool for the living.
If you are interested in learning how to use your protection as a “private capital system”—reclaiming the banking function in your own life while still securing your family’s future—explore Kraig’s specialty in the Infinite Banking Concept (IBC).
Why Life Insurance Cannot Wait
These statistics tell a story that every family in Terrebonne Parish needs to hear.
0
%
of households would face financial hardship within 6 months of losing their primary earner
0
M
Americans are uninsured or significantly underinsured according to industry
0
x
Most people overestimate the cost of life insurance by up to three times the actual price
$
0
Income taxes on properly structured whole life insurance cash value growth
Not Sure Where to Start?
Schedule a free consultation and find the right fit together.
Everything You Need to Know About Life Insurance
Click any topic to expand. Kraig believes an informed client makes better decisions.
What is whole life insurance and how does it work?
Whole life insurance is permanent life insurance that provides coverage for your entire life. Every premium payment builds guaranteed cash value in a tax-advantaged account that grows at a guaranteed rate, often enhanced by annual dividends from mutual insurance companies. That cash value can be borrowed against at any time, for any reason, without credit checks or penalties — the foundation of the Private Banking strategy.
How much life insurance do I actually need?
The rule of thumb is 10–12 times annual income — but the right amount depends on outstanding debts, number of dependents, spouse’s income, future obligations, and legacy goals. Kraig calculates this precisely for every client during the free consultation — no guesswork, no generic formulas.
What are dividends and why do they matter?
Dividends are a return of surplus premium paid by mutual insurance companies to policyholders. Not guaranteed — but select mutual insurers have paid dividends every year for over 160 consecutive years. The most powerful use: purchasing paid-up additions, which accelerates cash value growth and compounds the policy’s overall performance significantly over time.
Term vs. Whole Life: Which is right for you?
Term Life provides coverage for a defined period (10, 20, or 30 years). Less expensive but builds no cash value and ends when the term expires.
Whole Life is permanent, builds guaranteed cash value, and never expires. Premiums are fixed for life. Many clients use a combination — a whole life foundation for permanent protection and wealth building, supplemented by term for temporary income replacement needs.
How does life insurance fit into estate planning?
Life insurance death benefits pass to beneficiaries income-tax free and outside of probate. For high-net-worth individuals, irrevocable life insurance trusts (ILITs) can remove the death benefit from the taxable estate entirely. Kraig works with estate attorneys to ensure maximum benefit for heirs and minimal tax exposure.
Can I get life insurance if I have health issues?
Yes — in most cases. Many common conditions result in a rating (higher premium) rather than a denial. Kraig works with multiple carriers to find the best underwriting outcome for each client’s specific health profile, and pre-screens clients before formal application to protect their insurability record.
Term vs. Whole Life at a Glance
Click any topic to expand. Kraig believes an informed client makes better decisions.
|
Feature |
Term Life |
Whole Life |
|
Coverage Duration |
10, 20, or 30 years |
Lifetime |
|
Builds Cash Value |
✗ No |
✓ Yes — guaranteed |
|
Tax-Advantaged Growth |
✗ No |
✓ Yes |
|
Access to Funds |
✗ No |
✓ Policy loans anytime |
|
Dividend Potential |
✗ No |
✓ Yes (mutual companies) |
|
Premium Fixed for Life |
✗ Can increase at renewal |
✓ Yes |
|
Best For |
Income replacement, mortgages |
Wealth building, legacy, banking |
Meet Dr. Marcus — A Story in Two Outcomes
Dr. Marcus, 38 — Emergency Medicine Physician
At age 38, Dr. Marcus was in his peak earning years as a specialist. He was healthy, driven, and focused on his family. But he knew that his family’s lifestyle—and his children’s future—rested entirely on his ability to show up to work every day.
Kraig’s recommendation was straightforward: A $5,000,000, 20-year level term policy. Because Dr. Marcus was in great health, the policy was approved without a medical exam and was in force in less than a week. The cost? Just $180 per month.
Scenario A:
Without a Plan — The Unthinkable Happens
At age 42, the unthinkable occurs. Dr. Marcus passes away unexpectedly. Because he “never got around” to securing protection, his $180,000 in professional debt becomes his wife’s burden. Within a year, the mortgage is 60 days from foreclosure. The children’s college funds are non-existent. In the midst of her deepest grief, his wife is forced back into the workforce at a fraction of his income, struggling to raise two children alone while the life they built together unravels.
Scenario B:
With Kraig’s Plan — A Father’s Legacy is Secured
Dr. Marcus made a 15-minute decision at age 38 that changed the course of his family’s history. When he passes at 42, his wife receives $5,000,000, income-tax-free. * Immediate Peace: All professional debts and the mortgage are paid off in full.
- A Guaranteed Future: $1,000,000 is immediately set aside, fully funding his children’s college education.
- The Power of Choice: His wife isn’t forced back to work; she has the financial freedom to be present for their children during their most difficult time.
Dr. Marcus isn’t remembered for the “debt” he left behind—he is remembered as the hero who made sure his family would be taken care of, no matter what.
* Hypothetical scenario for educational purposes. Individual results vary.
Free Life Insurance Checklist
Everything you need to evaluate your current coverage and identify gaps — in plain English, no jargon.
- Calculate how much coverage your family actually needs
- Evaluate your existing employer group coverage
- Understand the difference between term and whole life
- Questions to ask before buying any policy
- Red flags to watch for in any life insurance proposal
Life Insurance FAQs
Is life insurance really necessary if I’m young and healthy?
Being young and healthy is the best time to buy — premiums are lowest and insurability is highest. The cost of waiting is almost always greater than the cost of acting.
Can I have multiple life insurance policies?
Yes — and many of Kraig’s clients do. A layered approach using multiple policies from different carriers is common for high-income earners who need more coverage than any single carrier will issue.
How long does it take to get approved?
Fully underwritten policies typically take 4–8 weeks. Some carriers offer accelerated underwriting with approval in as little as 48 hours for healthy applicants. Kraig identifies the fastest path based on each client’s health profile and coverage needs.
Have a Question About Life Insurance?
With nearly 30 years in the financial services industry, Kraig has seen it all. No question is too basic, no situation too complex. Ask anything — even if it’s not about life insurance.
CFP® Certified ChFC® Certified 28 Years Experience No Obligation