What is Life insurance?

At A.D.Young Insurance Agency, we know it's difficult to imagine a time when you won't be there to help provide for your family. That's why we offer a suite of Life insurance products designed to help answer your Life insurance requirements, at any stage of life. Whether you're a new family, empty nester, business owner, or single parent, we have a Life insurance option to suit your needs and budget. For a personalized assessment of your Life insurance coverage needs, including customized Term Life insurance quotes, contact us today.

Lawton Life InsuranceProtecting Your Family:

By preparing in advance, you'll have the peace of mind that comes from knowing you're protecting your family's financial future. And since Life insurance benefits are generally not taxable at the federal level**, your loved ones can use the benefits to help take care of their living expenses in a variety of ways.

  • Any needs after the time of death, such as final illness expenses, burial costs and estate taxes.
  • Funds for a readjustment period, to finance a move, or to provide time for family members to find a job.
  • Ongoing financial needs, such as monthly bills and expenses, daycare costs, college tuition or retirement.


Safeguarding Your Business

If you're a business owner or have business partners, it's important to prepare for the unexpected. We offers several Life insurance products that are designed to help you, as a business owner, to make it possible for your heirs to help pay estate taxes and help sustain the business during a change in management, or to help provide funds in order to execute a buy-sell agreement between partners or stockholders.

How much Life insurance do I need?

There's no doubt that Life insurance provides a sense of financial security. "If all else fails," you think, "at least I'm covered." But determining the amount of Life insurance you need depends on a number of variables: your marital status, current income, (projected) future income, number of dependents, value of your assets, and your preferred lifestyle in general.

A common rule of thumb is that your Life insurance benefit should equal 5-10 times your current annual income. But there's no one answer: if you're older, and your mortgage is paid off, you may not need as much Life insurance as a new homeowner. On the other hand, if you're single and have no children, you may not need a policy in addition to the one available at your job.

Keep in mind that until that Life insurance benefit is paid out, you are paying a monthly premium.  That's why it's important to research your options and talk to an insurance agent who can help you determine the best policy options for your situation. We offer a wide variety of term and permanent Life insurance coverage, with a range of premium levels to choose from.

What kind of Life Insurance do I need?

In a nutshell, Life insurance comes in two flavors: Term and Permanent. We offer several options for both types of Life insurance coverage.

Term Life Insurance

Term Life insurance provides the greatest amount of coverage for the lowest initial cost so it is a good choice if your needs are temporary or your funds are limited. Since term insurance provides coverage for a specific period of time (the "term"), you will have to choose the number of years you will need coverage. The Company pays a death benefit only if you die during that term. Some term insurance policies can be renewed at the end of the term. Premium rates may increase at each renewal date. Term insurance is useful as coverage for responsibilities that will diminish or end over time, such as mortgages or car loans. Farmers offers several Term Life Insurance options to choose from.

Lawton Life InsurancePermanent Life Insurance.

Permanent Life insurance coverage is useful when you anticipate a long-term need and value the option of income-tax-favored accumulation for future needs.  The accumulated value can be borrowed against and, in some cases, withdrawn to help meet future goals. (Of course, accessing your accumulated value may reduce your death benefit).  As long as you pay the necessary premiums, there is no time limit (or term) restriction on the availability of your death benefit.

Term vs. Permanent Comparison

The snapshot below offers a basic comparison between term and permanent Life insurance, based on a variety of circumstances.  For a personalized assessment of your Life insurance coverage needs, including customized term life insurance quotes, contact us today.

Term Life Insurance Policies

Term Life insurance could be the right choice when you're looking for temporary coverage to fit your current family or business needs. These policies generally provide the most coverage for your insurance dollar. What's more, several of the policies are renewable or convertible to permanent coverage that lock in your premium cost over the life of the policy.

Level Term 2000

Three level term to age 90 products, all having different premium structures:

  • 30-year product with level premiums guaranteed for 30 years.
  • 20-year product with level premiums guaranteed for 20 years.
  • 10-year product with level premiums guaranteed for 10 years.

In each case, after the level premium period, the projected premiums and the guaranteed maximum premiums increase annually.

Lawton Life InsuranceCritical Illness Accelerated Benefit rider

Critical Illness pays you a lump-sum benefit upon your first diagnosis of a covered condition, as defined in the policy contract, after the waiting period. You may spend the benefit as you choose, to meet your individual needs.

Accelerated Benefit - Terminal Illness Rider

This rider pays a part of the policy's Death Benefit while you are still living if a physician diagnoses you with a terminal illness, as defined in the policy contract. The maximum benefit available is $150,000 or 50% of the policy's Death Benefit. You may spend the benefit as you choose, to meet your individual needs.


Other Riders Available:

Waiver of Premium, Accidental Death Benefit, Children's Term Insurance Rider, Deposit Fund

Auto/Life and Home/Life Discounts:

In addition to providing inexpensive coverage for your temporary Life insurance needs, Term Life insurance policies may qualify you for discounts on your Auto insurance and Homeowners insurance.  Ask your agent for details.


At the end of the first policy term, you may re-enter for another level premium period at favorable rates if you meet medical qualifications in effect at the time you request re-entry. Re-entry provisions vary by policy term.


You may convert all or part of your Term policy to a permanent policy any time prior to 20 policy years or age 65, whichever is earlier. You may convert your policy to any permanent policy made available for conversion at the time of the request, subject to minimum and maximum face amounts.

Ages Available:

18-45 Nicotine Class
21-50 Non-nicotine Classes

18-60 Nicotine Class
21-60 Non-nicotine Classes

18-65 Nicotine Class
21-65 Non-nicotine Classes

Application Minimum:


Simple Term Life Insurance

Simple Term Life insurance coverage does not require a medical examination, which simplifies the Life insurance application and accelerates the underwriting process. Simple Term offers level term insurance with face amounts low enough to fit most budgets and guaranteed premiums that are level for 10, 20 or 30 years.

Customer Discounts:
Auto and Homeowner (including renters) customers could save up to 6% on their Simple Term Life insurance premium rates, whether they have existing Auto or Homeowner coverage or if they are applying for this coverage simultaneously

Riders And Benefits:

Accelerated Benefit - Terminal Illness Rider
This rider pays a part of the policy's Death Benefit while you are still living if a physician diagnoses you with a terminal illness, as defined in the policy contract. The maximum benefit available is $150,000 or 50% of the policy's Death Benefit. You may spend the benefit as you choose, to meet your individual needs.

Other Riders Available:
Waiver of Premium, Accidental Death Benefit

Conversion Provisions:
You may convert all or part of your Select Plus non-nicotine Simple Term policy to any permanent product currently available at any time prior to the earlier of 20 years or the anniversary following your 65th birthday (or if issue age is 65, during first year after issue). Policies in the Select and Special non-nicotine or Select and Special nicotine classes may be converted only to the Fixed Premium Whole Life insurance product.

Re-Entry Provisions:
Re-entry with evidence of insurability is allowed immediately after the initial level term period, but not sooner (subject to issue age maximums).

Ages Available:

18-65 Nicotine Class
21-65 Non-nicotine Classes

18-60 Nicotine Class
21-60 Non-nicotine Classes

18-45 Nicotine Class
21-45 Non-nicotine Classes
Application Minimum:
Maximum face amount:

Farmers Decreasing Term Life Insurance

Decreasing Term Life insurance has decreasing term coverage with premiums guaranteed to remain level as long as the policy is in force, which can help you provide protection for your family in your absence to pay for a variety of expenses such as a home mortgage or other similar types of costs.

The death benefit decreases monthly, which, for example, could follow the declining loan balance of a traditional fixed home mortgage. Once the death benefit decreases to a level equal to 20 percent of the initial face amount, it remains level until expiration.

The First-To-Die Plus Rider3 allows two people to be insured at a reduced rate. The rider does not have to be the joint mortgagee or spouse. Both the basic insured and First-To-Die Plus Rider's remaining death benefit is convertible to a permanent policy during the first 10 policy years and before age 65.

The First-To-Die Plus Rider may be separated to its own policy upon the policy owner's request any time while the basic policy is in force or within 60 days of the death of the basic insured. A policy fee will apply to the separated policy.

Also Available: Waiver of Premium, Accidental Death Benefit, Children's Term Insurance Rider, and Deposit Fund.

Auto/Life and Home/Life Discounts:
In addition to providing inexpensive coverage for your temporary Life insurance needs, our Term Life insurance policies may qualify you for discounts on your Auto and Homeowners insurance. Call and ask Aaron for details at 580-512-6403, or click here to email.

Ages Available:

18-65 (15 Yr.)
18-60 (20 Yr.)
18-55 (25 Yr.)
18-50 (30 Yr.)

21-65 (15 Yr.)
21-60 (20 Yr.)
21-55 (25 Yr.)
21-50 (30 Yr.)


Contact Aaron for more information.

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Universal Life Insurance

Sometimes basic Life insurance isn't the right choice.  Universal Life is designed to provide protection that fits your changing financial situation with:

  • Flexible coverage
  • Options for timing and method of premium payment
  • Many useful features and options, to tailor coverage to your personal needs

Universal Life policies could help you in your preparation for the future.
Universal Life (Policy Form 2006-044)
Universal Life policy combines the advantages of permanent protection and competitive cash value accumulation with the flexibility to adjust the time and amount of premiums, and the type and amount of death benefit. (Some changes require underwriting approval.)

This flexibility lets the product fit your changing insurance needs for a lifetime. It works hard to keep up with your current and future needs. It allows you to change the type of coverage and the death benefit while offering an outstanding cash accumulation program.
Universal Life can adjust to help provide:

  • Optimum insurance protection
  • Maximized income
  • Income Tax-favored status for faster growth1

Universal Life Benefits

  • Coverage - We offer a low minimum coverage to help you get started. Permanent coverage is available in amounts as low as $75,000 ($50,000 for juveniles and over age 50).
  • Premium - A minimum premium is required the first year, with the option of changing the timing or amount of payment afterwards.
  • Cash value - Every month cash value is credited to the policy to give you full benefits from the time you pay your premium. You also get competitive interest rates.
  • Customer Discount - Receive a discount of up to 20% on the Monthly Underwriting and Sales Expense Charge of your policy if you have a qualifying Auto, Home, additional Life insurance policy, or Annuity.

Flexible options: Increasing Death Benefit (Option A): The death benefit is the total of the current face amount and accumulation account.

Level Death Benefit (Option B): The total death benefit is the current face amount.

Changing Death Benefit Options:
You may change death benefit options after the first policy year, but no more than one change is allowed annually.
Policy Loans:
Even in the first policy year, you may take loans against all or part of the loan, provided the policy has a cash surrender value.. The Loan value is the cash value less (1) loan interest to the next policy anniversary date, less (2) three monthly deductions for policy costs or if less than three, the number due prior to the next policy anniversary date. The maximum loan interest rate is 7%.
Partial Surrenders:
(withdrawals) can be made after the first policy year subject to one partial surrender per calendar quarter, a $500 minimum and an amount not to exceed 75 percent of the cash value. Partial surrenders during the first nine policy years will incur a surrender charge.
Waiver of Deduction Benefit Rider
Owner Waiver of Deduction Benefit
Monthly Disability Benefit Rider
Accidental Death Benefit
Children's Term Insurance Rider
Additional Insured Rider
Automatic Increase Benefit Rider
Accelerated Benefit Rider for Terminal Illness

Whole Life Insurance Policies

Whole Life Insurance: Permanent Life coverage that is provided for the insured's lifetime. Premiums are usually level, and guaranteed for the life of the policy. Whole Life policies build cash value that the policy owner may borrow during the insured's lifetime, at a reasonable rate of interest. If there is an outstanding loan at the time of the insured's death, the death benefit is reduced by the loan amount.

Premier Whole Life
If you want the security of traditional whole Life insurance -- and the flexibility to add special one-year term and single premium riders and other options. It also has an Excess Credits feature that can mean added insurance benefits or cash back.

Premier Whole Life1 can be great solution for:

  • Young adults just beginning an insurance program
  • Families needing protection while saving for the future
  • Professionals who require a lot of short-term insurance coverage with the optional One Year Term Rider

Premier Whole Life is a non-participating policy that features level premiums guaranteed over the life of the policy, a level death benefit (for the base policy) and guaranteed cash values.
Excess Credits:
Excess Credits are based on future expectations of mortality, investments and expenses, and may be paid throughout the life of the policy. They may be taken in cash, added to the Deposit Fund (except in Kentucky and Tennessee), used to purchase paid-up additions or applied to pay future premiums. These credits are not guaranteed and the Company reserves the right to pay lesser amounts on substandard policies and policies with outstanding loans.
Riders Available:
One-Year Term Rider (only available at issue), Single Premium Paid-up Rider (only available at issue), Waiver of Premium, Accelerated Benefit Rider-Terminal Illness, Accidental Death Benefit, Children's Term Insurance Rider, Payor Death and Disability (for juvenile policies), Additional Insured Rider and Deposit Fund (Retirement Premium Deposit Fund in KS; not available in KY and TN). Guaranteed Insurability Benefit is available on juvenile policies only (issue ages 0-15.)
Auto/Life and Home/Life Discounts:
In addition to providing inexpensive coverage for your temporary Life insurance needs, Whole Life Insurance policies can qualify you for discounts on your auto and homeowners insurance. Ask Aaron for details.
Ages Available:
18-80 Nicotine Class
21-80 Non-nicotine Classes
0-17 for juveniles (conversion to Non-Nicotine status at age 21, if eligible)
Application Minimum (varies by premium band):
Band I, $10,000 - $24,999 (ages 0-50) and $25,000 - $99,999 (ages 51-80);
Band II, $100,000 - $249,999;
Band III, $250,000 and higher.


Fixed Premium Whole Life

Fixed Premium Whole Life is a permanent policy designed for fast underwriting of smaller death benefit amounts. This policy may be able to fill a variety of client needs including:

  • Older customers, particularly those age 55 and older, who are interested in a policy to cover final expenses.
  • Associations or organizations seeking small amounts of insurance for members who have no employer/employee relationship.
  • Fixed Premium Whole Life is specifically designed for efficient underwriting and issue service. Although this is not a guaranteed issue product and each application will be underwritten, in most cases a policy can be issued within a few days.

Fixed Premium Whole Life has these two important features:

  • Constant level of protection and constant premiums until age 100.
  • Built-in cash value, guaranteed to increase at 4 ½ percent yearly for the life of the policy.

Fixed Premium Whole Life is a nonparticipating whole Life insurance product that provides a level amount of protection with level premium to age 100. The policy features guaranteed cash values at a 4 ½ percent interest rate. Policy loans, as well as Reduced Paid-Up and Extended Term non-forfeiture options are available. If the insured is living at age 100, the face amount, less any outstanding loan, is paid as an endowment.
Ages Available:
21-80 (All states except Washington)
Washington: male 21-66 female 21-71

Application Minimum:
$10,000 for ages 21-50
$5,000 for ages 51-80

Application Maximum:
$25,000 for ages 21-65
$15,000 for ages 66-80.

Call Aaron at 580-512-6403 or Click Here now for a free, no obligation quote.