Miras Insurance Agency

Products

Five products. One built for you.

Life insurance isn't one product — it's a small family of them, each designed for a different goal. Here's a plain-English guide.

Term LifeWhole LifeIndexed Universal LifeUniversal LifeFinal Expense
01 / 05

Term Life

Affordable protection for a defined chapter of life.

Term life provides coverage for a specific period — usually 10, 20, or 30 years. If something happens during that term, your family receives a tax-free death benefit. It's the most cost-effective way to buy a large amount of protection.

Best for
  • Young families with a mortgage or young children
  • Anyone with income to replace during working years
  • People who want the most coverage per dollar
Key features
  • Level premiums for the entire term
  • Coverage from $100K to several million
  • Convertible to permanent coverage in most cases
Consider
  • Coverage ends when the term expires
  • No cash value component
See if Term Life fits your goals
02 / 05

Whole Life

Guaranteed coverage that grows with you for life.

Whole life is permanent coverage with a guaranteed death benefit, guaranteed premium, and a cash value that grows tax-deferred. It's built for people who want certainty and a lifelong asset.

Best for
  • Legacy planning and estate transfer
  • Building tax-advantaged cash value
  • People who want lifelong, guaranteed coverage
Key features
  • Premium never increases
  • Cash value you can borrow against
  • May pay dividends (with participating carriers)
Consider
  • Higher premium than term for the same face amount
  • Best when kept for the long term
See if Whole Life fits your goals
03 / 05

Indexed Universal Life

Permanent coverage with market-linked upside — and a floor.

IUL is a flexible permanent policy where cash value can grow based on an index (like the S&P 500) with a 0% floor that protects against market losses. Useful for supplemental retirement income and long-horizon wealth building.

Best for
  • High earners maxing out other tax-advantaged accounts
  • People who want market-linked growth with downside protection
  • Supplemental retirement income strategies
Key features
  • Tax-deferred cash value growth
  • Flexible premium and death benefit
  • Tax-free policy loans in retirement (when structured properly)
Consider
  • Complex — must be designed and funded correctly
  • Caps and participation rates apply to index gains
See if Indexed Universal Life fits your goals
04 / 05

Universal Life

Flexible permanent coverage you can adjust over time.

Universal Life offers permanent protection with flexibility to adjust the premium and death benefit as your needs change. Cash value grows based on a declared interest rate.

Best for
  • Business owners with variable income
  • People whose coverage needs will change over decades
Key features
  • Flexible premiums within policy limits
  • Adjustable death benefit
  • Cash value accumulation
Consider
  • Requires periodic reviews to stay properly funded
See if Universal Life fits your goals
05 / 05

Final Expense

Simple coverage for funeral and end-of-life costs.

Also called burial insurance, final expense is a smaller whole life policy (typically $5K–$50K) designed to cover funeral costs, medical bills, and small debts. Easy to qualify for at older ages.

Best for
  • Seniors ages 50–85
  • People who want to spare loved ones from final costs
Key features
  • Simplified or guaranteed acceptance underwriting
  • Coverage never expires as long as premiums are paid
  • Fixed premium
Consider
  • Smaller face amounts
  • Higher cost per $1,000 of coverage than term
See if Final Expense fits your goals

Still not sure which one fits?

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