Life Insurance

How Life Insurance Works

Life insurance provides financial support to your loved ones after your passing. You pay regular premiums, and in return, your beneficiaries receive a lump-sum payment called a death benefit. This money can help cover expenses like bills, debts, or future needs, giving your family peace of mind and financial security.

What does it cover?

Life insurance is designed to provide financial protection for your loved ones after you pass away. The payout, called a death benefit, can be used for almost any purpose your beneficiaries choose.

What are Riders?

In life insurance, a rider is an optional add-on that you can include in your policy to provide extra benefits or customize your coverage. Riders let you tailor your policy to better fit your personal needs and circumstances — usually for an additional cost.

Examples of riders are:

Accidental Death Benefit Rider: Pays an extra amount if you die as the result of an accident.

Waiver of Premium Rider: Waives your premium payments if you become disabled and can’t work.

Accelerated Death Benefit (Living Benefits) Rider: Lets you access part of your death benefit early if you’re diagnosed with a terminal illness.

Child Term Rider: Provides life insurance coverage for your children under your policy.

Guaranteed Insurability Rider: Allows you to increase your coverage amount later without having to take another medical exam.

Long-Term Care Rider: Helps pay for long-term care expenses, like nursing home or in-home care, using part of your death benefit.

How much is Life Insurance in Nevada?

In Nevada, the average cost of life insurance is about $50 to $55 per month, or roughly $600 per year, for a standard term life policy. However, the actual price can vary widely depending on several personal and policy factors. Age and health play a major role—young, healthy individuals typically pay much lower premiums than older applicants or those with medical conditions. Lifestyle choices such as smoking or engaging in high-risk activities can also increase rates. Additionally, the type of policy (term vs. whole life), the amount of coverage selected, and the policy’s duration all influence the overall cost. In general, term life insurance remains the most affordable option for most Nevada residents looking for reliable financial protection.

Where can I purchase a policy?