2026-03-10 by Julia Walker
Protecting Those You Love:
Estate Planning When a Family Member Has a Disability
Many famous figures have argued that how a society treats its most vulnerable members is a measure of its humanity and moral character. As Mahatma Gandhi famously observed, a society is ultimately judged not by its wealth or power but by how it uplifts those who need help the most.
Government programs such as Social Security, Medicare, and Medicaid support the needs of millions of disabled Americans. However, many of the day-to-day responsibilities and costs of caring for an individual with special needs fall on families, who are often left to navigate complex rules while trying to do the right thing for someone they love.
For families with disabled loved ones, estate planning must address proactive, coordinated decisions that protect benefits, support quality of life, and consider long-term financial planning alongside long-term care needs.
The Public Benefits Versus Private Wealth Conundrum in Special Needs Planning
The term disability paradox refers to a well-documented pattern in which many people living with serious disabilities report a high quality of life and strong life satisfaction even when they face substantial limitations shaped by healthcare gaps, social stigma, daily restrictions, and inadequate support systems.[1] Outside observers often interpret these same circumstances as inherently undesirable and assume that disability and the struggles these individuals face must correspond to reduced well-being and overall satisfaction with life.
A related paradox shows up in how our system supports people with disabilities. Public programs that are designed to provide critical assistance such as income support, housing assistance, medical care, and long-term support are typically available only if an individual has very limited financial resources of their own. Qualifying for these benefits therefore requires severe financial constraints, even when family members want to provide financial assistance. Access to essential support, in other words, often depends on maintaining what can feel like voluntary poverty layered on top of an existing disability.
Programs such as Supplemental Security Income (SSI) and Medicaid generally require individuals to have limited income and assets—often no more than $2,000 in countable resources.
At the same time, families caring for a child with a disability face nearly double the risk of financial hardship compared with families with nondisabled children.[2] Research shows that these families are more likely to rely on a single income, work lower-paying or less flexible jobs, live in poorer-quality housing, and experience long-term financial strain.[3] And yet, the help that family members try to provide is still closely scrutinized. Giving money directly to a disabled loved one—or leaving assets to them outright through an estate plan—can unintentionally cause them to lose the very benefits they depend on.
This is the challenge at the heart of special needs planning: how to provide necessary support without putting essential benefits at risk.
Special Needs Trusts and Other Disability Benefit Work-arounds
Because leaving money directly to a disabled loved one can jeopardize their public benefits, families need a way to provide financial support that promotes stability and protects eligibility.
One common approach is a special (or supplemental) needs trust (SNT). SNTs hold funds for a disabled beneficiary and allow money to be used for approved expenses that improve quality of life but do not affect eligibility for programs such as SSI or Medicaid. These trusts are designed to supplement public benefits, not replace them.
SNTs are central to disability planning but are not the only option families may consider. The following planning tools can play a supporting role:
● ABLE accounts. Achieving a Better Life Experience (ABLE) accounts allow eligible individuals with disabilities to save a limited amount of money each year for qualified expenses such as housing, education, transportation, and healthcare while keeping public benefits intact. These accounts can offer flexibility for smaller day-to-day needs.
● Pooled trusts. Pooled trusts are sometimes used when creating a standalone SNT is impractical. Funds are pooled for investment purposes but tracked separately for each beneficiary and are professionally managed, reducing any administrative burden on the individual and their loved ones.
● Life insurance. A life insurance policy can be used to fund future care needs, particularly for parents or caregivers who want to ensure that resources will be available for their disabled loved one after they are gone. In many cases, insurance proceeds are directed into a trust rather than paid outright to avoid jeopardizing any needs-based benefits the disabled individual currently relies on.
The right approach often involves a combination of tools, carefully coordinated to reflect a family’s resources, goals, and the specific needs of the disabled individual.
The size of the support matters, but so does how it is structured. Each approach should be judged not only individually but collectively, based on how it fits into the bigger planning picture.
Matching People with Plans
The right planning strategies can empower disabled individuals to live more independently and securely, often with a higher quality of life. But a plan is only as strong as the people designated to carry it out. Guardians, caregivers, and trustees play a pivotal role in maintaining continuity of care within a special needs estate plan.
Naming Guardians, Caregivers, and Trustees
A strong plan does not rely on a single person to do everything. It clearly defines roles so that responsibilities are shared, understood, and sustainable over time. In most plans benefiting people with special needs, that means thoughtfully naming and coordinating the following individuals:
● Guardians or primary caregivers. These are the people responsible for day-to-day care and major personal decisions. They ensure that the individual’s living situation, healthcare, routines, and personal needs are met consistently and compassionately.
● Trustees or financial decision-makers. Trustees manage funds set aside for the disabled individual. They make decisions about when and how money is used to support quality of life while also preserving eligibility for public benefits. Their role is financial oversight, not daily caregiving.
● Advocates or backup decision-makers. In some families, a trusted person serves as an extra set of eyes. This person understands the plan, the benefits rules, and the individual’s preferences and can step in if needed.
In addition to these key individuals, the plan may require support from outside professionals such as life care planners, social workers, financial advisors, and a corporate or professional trustee to serve as either the primary or backup fiduciary.
Clearly separating these roles helps avoid confusion, reduces conflict, and prevents any one person from becoming overwhelmed. Everyone involved should understand the disabled person’s needs and preferences and the role public benefits play in their care. When caregivers and decision-makers are on the same page, care is more consistent, benefits are better protected, and transitions—expected and unexpected—are easier to manage.
An estate planning attorney can serve as the hub in the special needs planning structure, helping to identify areas of concern, suggest options, and connect families with disability professionals, resources, and solutions.
[1] Gary L. Albrect & Patrick J. Devlieger, The Disability Paradox: High Quality of Life Against All Odds, ScienceDirect (Apr. 8, 1999), https://www.sciencedirect.com/science/article/abs/pii/S0277953698004110.
[2] Amy J. Houtrow et al., Health Care Cost Concerns and Hardships for Families of Children With Disabilities, Nat’l Libr. Med., Apr. 24, 2025, https://pmc.ncbi.nlm.nih.gov/articles/PMC12022804.
[3] Donna Anderson et al., The Personal Costs of Caring for a Child with a Disability: A Review of the Literature, Nat’l Libr. Med., Jan.–Feb. 2007, https://pmc.ncbi.nlm.nih.gov/articles/PMC1802121.
.jpg "Family with special needs")
2025-02-04 by Sue Hunt
Valentine's Day spending totaled nearly $26 billion in 2024, including an all-time high of $6.4 billion spent on jewelry.[1] Yet many Americans report feeling disappointed that their partner did not do enough to celebrate Valentine's Day.[2]
More than 40 percent of US adults say they feel stressed about finding the perfect gift for loved ones.[3] About one-third plan to give a gift of experience this year instead of material possessions, marking a consumer shift toward gifts that are seen as more experiential and personalized than material items.[4]
While the gift of a qualified terminable interest property (QTIP) trust may not be the most romantic Valentine's Day gesture, it could prove to be more thoughtful, caring, and valuable than an off-the-shelf purchase.
What Is a QTIP Trust?
A QTIP trust is an irrevocable trust for married couples that offers a tax advantage for the trustmaker (the spouse who creates the trust) and financial security for the surviving spouse while preserving wealth for future generations. Here is how it works:
What Makes a QTIP Trust Different?
There are as many different types of trusts as there are flavors in a box of Valentine's Day chocolates. In a way that sets them apart from other trusts, QTIPs offer a unique balance between providing for a surviving spouse and maintaining trustmaker control over the trust's assets.
Customizing a QTIP Trust
One of the strengths of a QTIP trust lies in its flexibility. Some ways to customize a QTIP include the following:
Distributions of Principal
The trustmaker has almost unlimited leeway to dictate when and how the trustee can distribute principal to their spouse. For example, they can limit access to the principal for only health, education, maintenance, or support expenses (i.e., the HEMS standard). They can also give the trustee sole discretionary authority to distribute principal based on the spouse's needs. They can even prohibit spousal access to the principal altogether to preserve assets for remainder beneficiaries.
Spousal Control
Although the trustmaker has the final say on the ultimate distribution of assets when the surviving spouse passes, they can give the surviving spouse some degree of control using strategies such as a testamentary limited power of appointment,which lets the surviving spouse choose how the remaining trust assets are distributed upon their death among a defined group of beneficiaries predetermined by the trustmaker (e.g., children, grandchildren, other family members).
Why Use a QTIP Trust?
A QTIP trust can be an effective estate planning tool if you want to provide for your spouse after your death but ultimately limit the spouse's control over your assets and have your assets pass to different beneficiaries.
This arrangement may prove useful when you have children from a previous marriage, your spouse does not manage money wisely or has creditor issues, or there is some other unique family dynamic. A QTIP trust can also be part of a business succession strategy that ensures your spouse has an income stream from the business without being involved in running it.
This Valentine's Day, instead of the customary candy, cards, flowers, and jewelry, consider showing your love with the gift of a QTIP trust that lasts a lifetime—and, in many cases, even longer. Call our office at 336-373-9877 to schedule an appointment.
[1] Valentine's Day Shopping Statistics, CapitalOne Shopping (Dec. 18, 2024), https://capitaloneshopping.com/research/valentines-day-shopping-statistics/.
[2] Have you ever felt disappointed by a romantic partner not doing enough on Valentine's Day? YouGov (Jan. 18, 2021), https://today.yougov.com/topics/entertainment/survey-results/daily/2021/01/18/0f873/2.
[3] Niranjana Rajalakshmi, Why you're so stressed out about finding the perfect Valentine's Day gift, News, The Univ. of Arizona (Feb. 7, 2024), https://news.arizona.edu/news/why-youre-so-stressed-out-about-finding-perfect-valentines-day-gift.
[4] Consumers Plan to Increase Valentine's Day Spending to Nearly $26 Billion, Nat'l Retail Fed. (Jan. 24, 2024), https://nrf.com/media-center/press-releases/consumers-plan-increase-valentines-day-spending-nearly-26-billion.
2026-04-10 by Julia Walker
College Savings: What If There Is Money Left Over?
Setting money aside for your children’s or grandchildren’s education can be a meaningful way to support their future. In some cases, however, not all the funds are needed for college expenses. For example, your child or grandchild may receive a sizable scholarship, choose a trade school that is less costly, or decide to join the workforce after high school graduation. You may wonder what you can do with the excess money. The answer often depends on how the money is managed, how the savings are structured, and what kind of strategies are involved.
Revocable Living Trust
If your estate plan uses a revocable living trust, you can include trust provisions directing the trustee to pay for a child’s or grandchild’s education after your death. The trust document can also specify what should happen if the full amount set aside for education is not needed (for example, allowing the remaining funds to pass to the beneficiary outright or be redistributed among other heirs). Because the trust is revocable, you can revise the instructions or add new contingencies at any time until you pass away or become incapacitated (unable to manage your own affairs).
Custodial Accounts
Uniform Transfers to Minors Act (UTMA) accounts and Uniform Gifts to Minors Act (UGMA) accounts hold money and property for a minor, and an adult custodian manages the account until the child reaches adulthood. The funds do not have to be used for education and can generally be spent for the child’s benefit, though they should not pay for everyday parental responsibilities such as food, clothing, or housing. The assets legally belong to the child. Once the child reaches the age of majority (usually 18 or 21, depending on the state), the account is transferred to them outright, and they can use the money for any purpose, even if they choose not to pursue higher education. In other words, there is no way for the original contributor to reclaim unused funds. If the minor passes away before the account is turned over, any remaining funds are distributed according to state intestacy law.
Achieving a Better Life Experience (ABLE) Accounts
For families of individuals with disabilities, Achieving a Better Life Experience (ABLE) accounts may also play a role in education planning. Designed for individuals with disabilities, ABLE accounts are tax-advantaged savings accounts that can be used for education as well as other qualified disability-related expenses. They allow a beneficiary with a qualifying disability to save money while preserving their eligibility for certain means-tested public benefits and supporting their overall quality of life. Because the funds can be used for a broad range of qualified expenses in addition to education, unused education savings can typically be redirected to other disability-related needs.
State or Federal Education Plans
Education savings plans such as 529 plans and Coverdell education savings accounts (ESAs) offer several options if the original beneficiary does not need the funds. In many cases, you can change the beneficiary to another qualifying family member or roll over the money into another account of the same type. Unlike 529 plans, Coverdell ESAs have a built-in distribution deadline. If there are funds remaining in the account when the beneficiary turns 30, the balance must generally be distributed within 30 days unless the beneficiary has special needs.
Recent tax law changes also provide an additional safety valve for unused 529 funds. If the account has been open for at least 15 years, up to $35,000 (lifetime limit) may be rolled in to a Roth individual retirement account (IRA) for the beneficiary, subject to annual contribution limits. In addition, up to $10,000 from a 529 plan can be used to repay qualified student loans for the beneficiary or their siblings.
Rolling over or changing beneficiaries typically does not trigger federal taxes, but state tax rules may vary, especially if you claimed a state tax deduction or credit when you made the original contribution. If the funds are ultimately withdrawn for noneducation expenses, the investment earnings will generally be subject to income tax as well as a 10 percent federal penalty.
2025-02-04 by Sue Hunt
A home is often one of the most important assets that people own. Therefore, most people want to stay in their home until they die and then have a loved one receive it. One common way to pass a home to loved ones is through a will. However, transferring property with a will requires probate, which is generally considered a lengthy, costly, and public court process that many actively seek to avoid.
There are several ways an estate plan can transfer property without a will or probate court involvement when the owner passes away. In addition to a lifetime transfer of the property (by sale or gift), certain types of deeds can be used that take effect only upon the property owner's death and do not subject the property to probate. However, using these deeds for probate avoidance can potentially introduce new issues. A trust-based estate plan may be a better option if the goal is simply to avoid probate.
Home Ownership and Inheritance
We are living through one of the largest intergenerational wealth transfers in history. Roughly one in six Americans expect to receive an inheritance in the next 10 years, and among those, nearly half anticipate inheriting property such as a house.[1]
According to Pew Research, in 2021, nearly two-thirds of US households lived in a home they owned as their primary residence.[2] Homeowners have, on average, around $174,000 in equity in their homes—more than double the value of their next most valuable asset, retirement accounts, which have an average value of $76,000.[3]
Real Property, Legal Rights, and Trusts
A key concept in estate planning is honoring people's wishes by helping them control, as much as possible, what they own and what happens to it after their death.
An estate plan enables a homeowner to decide what happens to their property after they pass away, ensuring that it goes to the person (or people) they choose in a manner of their choosing, whether that means keeping it in the family and setting limits on its use or transferring the property to a beneficiary without restrictions.
Options for Transferring Real Property at Your Death
Estate planning is highly flexible, offering multiple ways to satisfy someone's wishes for what happens to their money and property when they die, each with a mix of benefits and downsides.
To avoid probate, there are many ways to transfer real property, both during the owner's lifetime and at their death. Some solutions can cost less than a trust, but as the examples below show, they can also have significant downsides and risks.
Deed-Based Transfers
A deed is a legal document that transfers real estate ownership from the current owner (the grantor) to another individual or entity (the grantee). Several types of deeds can be used to gift real property at the grantor's death. They include the following:
Again, not all of these types of deeds are legally valid in all states. An experienced estate planning attorney can explain what tools are available to you and discuss the benefits and potential risks.
Downsides to Using a Deed to Transfer Property at Your Death
There is no creditor protection for your beneficiaries. When a deed transfers property to a beneficiary, that property goes to the beneficiary outright. There are no strings attached and no protections. For instance, if the beneficiary were to receive the property during a bankruptcy proceeding, it might be used to satisfy the creditors because it is now considered the beneficiary's property.
There is no protection if the beneficiary is disabled or unable to manage their affairs. As previously mentioned, when the beneficiary receives the property, it is theirs. However, if they receive the property when they cannot manage their affairs, its management falls to another person. It may be handled by a court-appointed guardian or conservator or an agent under a financial power of attorney, who can do whatever they want with it (as long as it is in the incapacitated beneficiary's best interest). Also, if the beneficiary receives any means-based assistance, the sudden inheritance could jeopardize those benefits by placing the beneficiary above any applicable asset threshold.
There are no protections for you if you cannot manage your affairs. These deeds are a sufficient way to transfer property after you are deceased. However, if you cannot manage your affairs during your lifetime, the named beneficiary or remainderman has no access to or interest in the property to help you manage it until you pass away. You will have to rely on an agent under a financial power of attorney (if you have one) or a court-appointed guardian or conservator to manage the property on your behalf.
Your beneficiary is free to do what they want. As already discussed, if you use a deed to transfer ownership at your death, your beneficiary will receive the property outright. You cannot add any conditions or requirements regarding the property or its use. The beneficiary can sell, mortgage, or use it as a rental property (subject to applicable zoning restrictions). It is their property to do with as they please. Their intended use of the property may not align with your wishes.
Using a Trust to Transfer Real Property
While you may view your home as a place to live and not as an investment or financial vehicle, that perception can change when you pass away and the home passes to a loved one, particularly if that loved one already has a primary residence.
A beneficiary who inherits a home may decide to sell the property; turn it into a rental; renovate the property to use it as a farm or business; sell off individual structures on the property (such as a barn or historic structure); cash in on its natural resources (e.g., allow timber to be harvested); or even tear down the original home and build a new one in its place. When more than one beneficiary inherits the property, disagreements about how to best use it could arise.
You might not care what happens to your home when you are gone. However, if you want to set restrictions on its use for any reason—whether those reasons are sentimental or have the practical intent of reducing conflicts among multiple beneficiaries—you must use the right estate planning tool.
Consider placing your home in a living trust that legally owns the property, with you serving as a trustee and being the current beneficiary during your lifetime. This allows you to stay in your home—and maintain control over it—while you are alive. When you pass away, the home does not go through probate because you do not technically own it. Instead, a successor trustee assumes legal responsibility for the property and manages it or gives it away in accordance with your trust's terms.
The trust terms can be highly detailed, and limitations can be set on how the property can be used. You can stipulate, for example, that the property must be shared as a family vacation home and cannot be used for business purposes. You can require that the house be held in the trust until your minor children reach a certain age so they can remain in the home after your passing. While the trust owns the property, your terms will govern its use. As soon as the property is distributed from the trust, you lose all control over it.
The Best Way to Transfer Property for Every Situation
Estate planning is a highly personal process that must consider many factors, each of which can have multiple solutions that present a unique set of benefits and drawbacks.
Avoiding probate is usually just one estate planning consideration among many, and it may not be desirable in every situation.
Determining the best way to pass down real property at death depends on your preferences and family circumstances. An estate planning attorney can explain each available option and help you decide what is best for your situation.
[1] The "Great Wealth Transfer" is underway but nearly half expecting an inheritance are not ready to manage it, finds New York Life Wealth Watch Survey, New York Life, July 19, 2023, https://www.newyorklife.com/newsroom/2023/new-york-life-wealth-watch-great-wealth-transfer.
[2] Rakesh Kochhar and Mohamad Moslimani, 4. The assets households own and the debts they carry, Pew Research Center, Dec. 4, 2023, https://www.pewresearch.org/2023/12/04/the-assets-households-own-and-the-debts-they-carry.
[3] Id.
by Julia Walker
Backup Plans Are Loving Too: Why You Need Contingent Agents and Guardians
Progressive Insurance recently rolled out a series of commercials featuring “backup” quarterbacks stepping in to handle everyday challenges, such as ordering food, giving advice, and even parking a trailer. After the “backup” salvages the situation, each commercial ends with the same line: “If only there were backups in real life.”
The ads are designed to emphasize how a backup can provide peace of mind when the unexpected occurs, as it often does, in both football and life. Progressive frames the point simply: “It’s always a good idea to have a backup plan.”
The humor hinges on the premise’s absurdity. In most areas of life, a person cannot summon a backup to act on their behalf during a deeply personal moment and expect that substitute to seamlessly complete the task.
Estate planning represents a notable exception. Real-life backups are contingent decision-makers designated in advance to step in if a primary decision-maker cannot serve. These contingents function much like backup quarterbacks: prepared to act quickly, often under pressure, and sometimes when the stakes are high.
An estate plan that names only primary decision-makers may appear complete on paper. Without contingents, however, the plan lacks the depth needed to remain effective when circumstances change, much like a football team without a backup quarterback.
Backups Prevent Chaos
When a team has no backup quarterback, it risks losing its entire passing game the moment the starter goes down. In desperation, coaches may be forced to put a nonquarterback under center to keep the game moving, with predictably disastrous results.
After a high-profile game exposed this exact problem, the National Football League changed its rules,[1] adopting an “emergency quarterback” policy to ensure that, even in extreme circumstances, a team would not be left without an on-field quarterback.
The logic is structural rather than sentimental: the quarterback is a control point for the entire strategy, and the system quickly falls apart when no prepared backup exists to take over.
The same dynamic exists in estate planning. When a plan relies on a single decision-maker with no designated contingency, it creates a fragile structure—one illness, conflict, relocation, or instance of unavailability away from confusion, delay, or court involvement.
Contingents provide stabilization and strategic depth. They allow your estate plan to keep functioning even when life goes off script.
Fielding the Right Team in an Estate Plan
Backups are not expected to completely fill the starter’s shoes. If they could, they would be starting. However, they are expected to be part of the game plan so that, if they are needed, the drop-off is manageable and the system can continue to operate.
That is an excellent way to think about contingents in an estate plan. Their role is not perfection but continuity.
When backup decision-makers are not built in, all bets are off. Decisions stall. Authority becomes unclear. Courts or third parties may be forced to step in. And unlike football, where the fallout affects both players and fans, the real-world consequences land on family members, often during moments of stress, grief, or medical crisis.
Just as damaging as having no backup is having the wrong one. Naming someone who is unavailable, unprepared, or no longer appropriate can be the equivalent of signing a player off the street and hoping for the best. The position may be filled, but the drop-off is glaring, and the system will not function as intended.
Common Contingent Oversights and the Problems They Cause
Contingents, like backup quarterbacks, are best viewed as necessary additions to your decision-making team. Whether on the field or in real life, things rarely go exactly as planned. Not having the right backups in place can cause an otherwise well-drafted estate plan to quickly break down, sometimes at the worst possible moment.
Financial Power of Attorney
● Only one agent has been named, with no contingent agent.
● A contingent agent was named years ago and may no longer be an appropriate choice.
● Coagents are named without clear instructions on authority (for example, whether they must act jointly or may act independently, and how disagreements are to be resolved).
Result: Financial decisions stall, accounts freeze, and families may be forced to go to court.
Healthcare Agent
● Only one health care agent has been named, with no alternate.
● The named agent may be unavailable (out of state, difficult to reach, or unable to respond quickly during a medical event).
● The agent’s current views may no longer align with the client’s wishes (or the client’s wishes have evolved and have not been clearly communicated).
Result: Treatment decisions may be delayed, authority can become unclear, and family conflict often escalates during medical crises.
Executor or Personal Representative
● No alternate executor has been named.
● The named executor is unwilling or unable to serve.
● The named executor lacks capacity or lives far away, limiting availability for time-sensitive tasks.
Result: Probate is delayed, costs increase, and court involvement becomes more likely at a sensitive time.
Guardians for Minor Children
● A guardian has been named for one child but not for others.
● No backup guardian has been named.
● The named guardian’s circumstances have materially changed (health, location, family responsibilities, or financial stability).
Result: Courts must decide custody and identify backup choices without knowing the parents’ wishes.
Across all these roles, the pattern is the same. Change was unanticipated, and the plan failed as a result. Depth was never built into the system. Or if it was, it was the wrong kind of depth. The listed backup was not read into the game plan or in “playing shape.” They had not had sufficient practice to be game-ready.
Backups Are a Sign of Readiness
Nobody would accuse a team with a solid backup quarterback of being pessimistic or overly worrisome. Backups are standard procedure because the position carries high stakes, and the consequences of being unprepared are immediate.
Estate plans work the same way. Naming backups (successor trustees, alternate personal representatives, backup agents under powers of attorney, and contingent guardians) is not “expecting the worst.” It is smart redundancy: an added layer of protection that helps your plan hold up when life does not cooperate. And, just as with a team’s lineup order, those choices should be revisited and updated during regular plan reviews.
Teams do not hesitate to replace a backup when the fit is wrong for the system or the locker room, and you should not hesitate either. Sometimes the person you picked years ago has moved, become unavailable, changed in capacity, or is simply not the best match for what your family needs today.
In real life, just as in football, you sometimes need someone ready to step in when life does not go according to plan.
However you look at it, your backups are every bit as important as the starters in your estate plan and require a specific skill set—and preparation—to succeed when they are called.
Do you need to name backups or help choosing the right contingents? We are here to assist you in doing just that!
[1] NFL emergency third-quarterback rule: Questions and answers, NFL (Sept. 4, 2023), https://www.nfl.com/news/nfl-emergency-third-quarterback-rule-questions-and-answers.
2026-07-15 by Julia Walker
Myth: Life insurance is too expensive for most people.
Term life insurance is often more affordable than people expect, particularly for young, healthy applicants. Because it is designed to cover a specific period (not your entire life), the monthly cost is usually much lower than permanent life insurance. Rates are also largely based on risk. Insurers look at your age, health, and other factors. Generally, the younger and healthier you are when you apply, the lower your premium, and you can often lock in that price for the length of the term. Even a modest term policy can cover things people worry about most, such as final expenses or loans.
