Nobody loves thinking about life insurance. But if someone counts on your paycheck — a spouse, your kids, a parent you help out — it's one of the most important things you can put in place. It's really about helping the people you love stay on their feet if something happens to you.
Troy Lentz helps families across the Kansas City area — and throughout Missouri and Kansas — sort through term life, whole life, and indexed universal life (IUL) in plain English, with no pressure to decide on the spot.
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Troy Lentz
Licensed Insurance Advisor · A Farmers Insurance Agency
Monday – Friday, 9:00 AM – 5:00 PM
There's no one-size-fits-all answer. Here are the options we talk through most, and what each one is built to do.
Covers you for a set period — like 10 or 20 years — and pays a death benefit to the people you choose if you pass away during that time.
It's the most straightforward kind of life insurance, and it generally costs less than permanent coverage, especially early on. That makes it a common way to get more coverage while the kids are young or the mortgage is big. When the term ends, the coverage ends.
Permanent coverage designed to last your whole life, with a death benefit and cash value that builds over time.
Whole life generally comes with a set amount of coverage, which makes it predictable. It costs more than term for the same death benefit, so it's worth thinking about what matters most to you before you choose.
Permanent life insurance with a death benefit plus cash value that can earn interest tied to how a market index performs — without your money being invested in the market.
How much interest gets credited depends on the policy's caps, participation rates, fees, and other terms. Policy charges and loans reduce the cash value, and a policy that isn't funded well enough can lapse. It's life insurance, not an investment — and it deserves a real conversation to see if it fits.
How IUL worksPermanent life insurance is designed to cover you for life, rather than a set number of years, as long as the policy stays in force.
Whole life and universal life — including IUL — are all kinds of permanent coverage, and they work differently. We'll lay the options out side by side and help you figure out which approach, if any, fits your goals and your budget.
Life insurance meant to help your family stay in the home by putting money toward the mortgage if something happens to you.
Depending on the policy, the death benefit may stay level or go down over time along with your mortgage balance. We'll explain exactly how the policy you're looking at works, including who receives the benefit.
Life insurance usually comes up when life changes. These are the moments we hear about most from families around here.
IUL is permanent life insurance, so first and foremost it's there to pay a death benefit to the people you choose. What makes it different is the cash value that builds inside the policy.
Part of what you pay covers the cost of the insurance and the policy's charges, and the rest can go toward the cash value. That cash value can earn interest based on how a market index — like the S&P 500 — performs. Your money isn't actually invested in the stock market; the index is just the yardstick used to figure out the interest.
How much interest is credited depends on the policy's terms, including caps (a ceiling on how much can be credited), participation rates (how much of the index's gain counts), fees, and other policy terms. Those terms vary from policy to policy and may change over time.
| What it is | Permanent life insurance with a death benefit and cash value |
|---|---|
| How the cash value can earn interest | Based on a market index's performance, within the policy's caps, participation rates, and terms |
| Is my money in the stock market? | No — the index is only used to calculate interest |
| What reduces the cash value | Policy charges, fees, and loans |
| What could make it lapse | Not enough funding to cover the policy's costs |
Source:NAIC: Types of life insuranceNAIC Life Insurance Buyer's Guide
Life insurance works a little differently from home or auto insurance — it's tied to you, not to a house or a car. But a few things are worth knowing no matter which side of the state line you live on.
If you have coverage through work, that's a good start, but it may not be enough on its own. The National Association of Insurance Commissioners (NAIC) notes that employer coverage is usually less than people need, and if you leave that job, you may not be able to take the coverage with you.
| Income to replace | How many years would your family need help? |
|---|---|
| Debts | Mortgage, car loans, and other balances |
| Future costs | College, childcare, or helping an aging parent |
| Coverage you already have | Through work or on your own |
Source:NAIC: Types of life insuranceNAIC Policy LocatorKansas Insurance Dept.
Around Kansas City, plenty of families live on one side of State Line Road and work on the other. The good news: an individual life insurance policy isn't tied to your address the way home or auto coverage is, so it can generally stay with you if you move from Missouri to Kansas or back, as long as you keep it in force.
Coverage through your employer is a different story. If your job is across the line and you change employers, that coverage may not come with you — which is a good reason to think about having a policy of your own.
Moved recently? Make sure your insurance company has your current address, and that your beneficiary information is up to date.
| Individual policy | Update your address and keep payments current |
|---|---|
| Coverage through work | Find out what happens to it if you leave |
| Beneficiaries | Review them after any big life change |
| New mortgage | Revisit how much coverage your family would need |
Not sure what your policy should include? Let's walk through it together.
Life is already selected below. Add anything else you'd like us to look at, and a Shield Squad Agency representative will reach out to talk through your options.
A good starting point is to think about what your family would need if your income stopped: how many years of support, which debts like the mortgage would need to be paid, and future costs like college. Then subtract what you already have, including coverage through work. We'll walk through the math with you.
Term covers you for a set number of years and then ends. Permanent coverage — like whole life or IUL — is designed to last your whole life as long as the policy stays in force, and it builds cash value. Term generally costs less, especially early on, while permanent coverage costs more but doesn't end after a set period.
No. IUL is life insurance. Its cash value can earn interest based on how a market index performs, but your money isn't invested in the market, and how much is credited depends on the policy's caps, participation rates, fees, and other terms. It's not a fit for everyone, and we'll be straight with you about whether it makes sense for your situation.
Yes. Policy charges and loans reduce the cash value, and if the policy isn't funded well enough to cover its costs, it can lapse and the coverage could end. That's why we look closely at how much you plan to put in, and why it's smart to review the policy over time.
It might not be. Employer coverage is often less than a family needs, and if you leave the job, you may not be able to take it with you. It's worth adding up what your family would actually need and seeing where the gap is.
It's life insurance meant to help your family keep the house by putting money toward the mortgage if something happens to you. Depending on the policy, the benefit may stay level or go down over time with your mortgage balance. We'll explain how the specific policy works, including who receives the benefit, before you decide anything.
The NAIC's Life Insurance Policy Locator is a free, confidential way to search for policies of someone who has passed away. You'll need information from the death certificate, and searches can take 90 business days or more.
NAIC Life Insurance Policy LocatorYou do not need a 40-page illustration to start. You need a clear reason, a realistic number, and a policy you will still understand in five years.
Bundling is not a magic coupon. Here is when Auto/Home or Auto/Renters usually makes sense for Missouri and Kansas households — and when I tell people to pause.
A regular home policy is built for you living there. The moment you hand over keys to a tenant, the insurance conversation changes.
