LegacyBridge Financial Group • Insurance

Term Life

Definition Coverage for a set period (e.g., 10–30 years). Designed to protect income and debts during key years.

Best for: Affordability, mortgage protection, family income replacement.

Notes: Typically has no cash value; can often be converted to permanent coverage (carrier rules apply).

Whole Life

Definition Permanent coverage with guaranteed premiums and a cash value that grows at a set rate.

Best for: Lifelong coverage, stable premiums, legacy planning.

Notes: Premiums are higher than term; potential dividends with participating carriers.

Universal Life (UL)

Definition Flexible permanent policy where you can adjust premiums and death benefit (within policy limits).

Best for: Long-term flexibility and cash value potential.

Notes: Values depend on credited interest and policy expenses; requires ongoing review.

On-Exchange Plans

Definition Marketplace (Affordable Care Act) plans that may qualify for premium tax credits based on household income.

Best for: Individuals/families seeking potential subsidies and essential health benefits.

Notes: Open Enrollment windows apply; Special Enrollment available with qualifying life events.

Off-Exchange / Private Plans

Definition Plans purchased directly from carriers. May offer different networks or benefits than marketplace plans.

Best for: Those who don’t qualify for subsidies or prefer specific networks/benefits.

Notes: Underwriting and availability vary by state and carrier.

What is IUL?

Definition A form of universal life where cash value growth is tied to an equity index (e.g., S&P 500) using caps/floors. You’re not directly invested in the market.

Potential Benefits: Downside floor protection, tax-advantaged cash value growth, policy loans/withdrawals (rules apply).

Considerations

Important: Crediting methods, caps, participation rates, and charges affect performance. Policy loans/withdrawals reduce cash value and death benefit and may have tax implications.

What is AUL?

Definition A UL policy designed primarily to accumulate cash value with flexible premiums and adjustable death benefits.

Potential Benefits: Flexible funding strategies, long-term cash value focus, supplemental income potential via policy loans/withdrawals (rules apply).

Considerations

Important: Credited interest rates, cost of insurance, and policy charges impact growth. Requires periodic reviews to keep goals on track.

Original Medicare (Part A & B)

Definition Federal hospital (A) and medical (B) coverage. Doesn’t include most prescriptions or some cost caps.

Add-ons: You can add Part D (Rx) and/or a Medigap policy for cost gaps.

Medicare Advantage (Part C)

Definition Private plans that bundle A & B (often D), sometimes with extras (vision/dental/hearing). Network rules apply.

Note: Benefits, premiums, and provider networks vary by plan and county.

Part D (Prescription)

Definition Stand-alone prescription coverage or built into some Advantage plans.

Tip: Formularies and pharmacies impact costs—annual review recommended.

How it works

Definition The ACA marketplace offers qualified health plans that include essential health benefits and may be paired with premium tax credits based on income and household size.

Key Dates: Open Enrollment occurs annually; qualifying life events (QLEs) can open Special Enrollment.

We can help you qualify

We guide you through applications, subsidies, plan comparisons, and doctor network checks—so you don’t overpay or lose benefits.

What happens next?

✓ We confirm your details and preferences.

✓ We compare plans from multiple carriers.

✓ You get a tailored summary with pricing.

Average turnaround: 24–48 business hours. Timelines may vary by carrier/state.