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We let life insurance companies compete for your business so you can find the very lowest rate! 

All policies provide a guaranteed level premium and death benefit that will not change.

We update our quote engine daily to be sure and offer you the lowest quotes available. 

Please call us at 1-800-657-7178 for any questions we can help with. 

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    Permanent Life Insurance 

    Universal Life provides the lowest premiums for permanent life insurance!

Universal Life Insurance is the most economical permanent life insurance you can buy.
Your premiums never increase and your life insurance coverage will never decrease. Universal Life Insurance is more affordable than whole life insurance and won't expire like term insurance does. Term life insurance will usually provide more coverage for your money, but less than 5% of all term life insurance policies pay off because most people outlive their policies or finally realize term insurance is temporary insurance that they only rent for a few years. People don't outlive their Universal Life Insurance policies or rent them, they own them to provide guaranteed coverage to age 121. Universal Life Insurance will pay off and do it for less than any other permanent life insurance policy. 

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Universal Life Insurance with Living Benefits
Traditional life insurance policies only pay a death benefit and do nothing to help us while we're living, but the new Universal Life Insurance policies will pay thousands of dollars for a chronic illness while you're alive and do it for no additional cost. You have access up to 24% of the death benefit per year if you suffer a chronic illness such as alzhiemer's or dementia, or cannot perform two of six ADL's (activities of daily living) like eating, bathing, dressing, taking medicine, toileting, or walking. 

In addition to the financial support provided due to a chronic illness, you also pay no more premiums. No more premiums for your life insurance policy for the rest of your life! You'll receive thousands of dollars to help pay for home health care, assisted living, or nursing home care, and pay no more premiums. All the unused portion ($25,000 minimum) will be paid as a death benefit.

This is life insurance you don't have to die to use.

Example: Jim buys a $250,000 universal life insurance policy to provide permanent life insurance protection for his family.
At age 84 he struggles with short term memory loss due to dementia and can no longer take care of himself. He needs $30,000 a year for care. With his Universal Life Insurance policy, he can take out $30,000 a year for 5 years and leave about $100,000 as a death benefit, and receive it all without paying any additional premiums.
Once a person is diagnosed with a permanent chronic illness there are no additional premiums required. What other policy will do that? If you're without long term care insurance, this policy is a good alternative, it can help solve two concerns with one policy.

Universal Life Insurance is not only the most economical permanent life insurance policy, it's on sale now compared to any other time of your life. You're never going to be any younger than you are today, and the younger you are the less you pay.  Once the policy is issued the premium will never increase and the death benefit will never decrease. Why wait only to pay a higher premium in the future when you can secure the lowest premium ever for yourself now?

Paid Up Universal Life Policy You can pay the lowest premiums to age 100 and your policy is paid up to age 121, or you can pay up your policy sooner with a single premium or for 10 years and your policy will be paid up for the rest of your life. North American Life usually offers the lowest premiums to pay up a policy for 10 years or with a single payment, but you have to scroll down after you click the compare now button to see their annual premiums even though you can pay monthly. To receive the lowest quote call 1-800-657-7178.

Must read for older UL policies. If you bought a Universal Life Insurance policy before the year 2000 this may be beneficial.

Before the year 2000 most Universal life insurance policies were a combination of annual and renewable term insurance with a side fund that would accumulate money. During our younger ages the internal annual and renewable term insurance cost are very low, which allows for the accumulation of more cash value. The design of these older universal life insurance policies was to have enough cash value in the policy to pay the higher internal term insurance charges as we got older. This was a good concept provided the insurance companies could pay the 9% to 11% they projected the cash value to earn. With an average interest rate of 9% or more there would be plenty of cash value to pay for the much higher internal term insurance charges as were grew older. The problem with the old type of universal life insurance policies is, the interest rates earned for the last 30 years have been much lower than anticipated, and when you combine low interest rates with the increasing term insurance cost , it doesn't work out well. Most all of the policies written in the 70's 80's and 90's have, or will lapse due to this combination unless people pay higher premiums to make up for these low interest rates. Internal term insurance charges that started at $10 to $20 a month for a $100,000 policy on a 35 year old person, increase to more than $1,000 a month at age 85. With term charges like these and interest rates of 3% to 4% instead of the projected 9% to 11% it's no wonder most all of these policies have lapsed. You can pay the higher premiums to keep the policy from lapsing, but with the internal cost of term insurance increasing every year, a person can eventually end up paying in more than the policy is worth. If you're insurable and have a universal life insurance policy that is not a GUL Guaranteed Universal Life policy, I would look into getting a GUL policy. If you're uninsurable and can't qualify for a new policy,  ask for a midstream proposal from the insurance company, so you can see how long your policy will remain in effect and what it will take to keep it active. It's better to pay 2 to 3 times your current premium now than to pay 4 to 5  times your current premium when all your cash value is gone.   These policies were sold in good faith, because everyone back then expected interest rates to be good for a very long time so these policies would do what they were expected to do, but due to low interest rates they haven't.
So around the year 2000 most life insurance companies redesigned the universal life insurance policies to provide guaranteed level premiums and guaranteed level premiums that will never change. These policies are called Guaranteed No Lapse Universal Life Insurance policies because they are guaranteed not to ever lapse provided the premiums are paid. These GUL policies are not dependent on interest rates, they are guaranteed by the insurance company to provide a guaranteed death benefit for the premiums paid, just like term insurance policies do. The main difference is GUL policies are permanent policies guaranteed to age 121, whereas term insurance policies are temporary and only last 10,15, 20, or 30 years.
If your need for life insurance is permanent, the policy that will give you the most permanent coverage for the lowest price is Universal Life Insurance. 

Indexed Universal Life provides the potential to produce strong cash value accumulation, and tax free retirement income. Your money not only grows tax free, it also provides tax free income, which results in lower taxes on your total income.

Term Life Insurance is low cost life insurance for a term of 10, 15, 20, or 30 years. Term Life Insurance is usually the most economic life insurance because it's considered temporary life insurance. Term life insurance is typically used to pay off a mortgage,  provide an income for a family, and college educations. If you're looking for a generous amount of temporary coverage, for the lowest price, term life insurance is the best.

Whole Life Insurance is permanent life insurance $5,000 to $50,000 that you keep your whole life.Whole Life Insurance provides the money needed to take care of final expenses and builds cash value to have as a safety net for emergencies. Whole life insurance is also known as final expense insurance or burial insurance. If you want a policy that will provide the funds needed to take care of final expenses so your family won't have to, whole life insurance is a great option.

Last to Die or Second to Die Life Insurance is a permanent life insurance policy on the lives of two people (usually married) that pays benefits to heirs, only after the death of the surviving spouse.Parents who take out this type of life insurance do so for their children and not for themselves.This policy is more affordable than individual policies and is the best policy to pay estate taxes.The quote engine cannot quote two individuals. Please call 1800 657 7178 for a personal quote.    

Return of Premium Term Insurance provides the term life insurance protection you want for your family and returns your premiums at the end of the term. What other insurance does that? It's like having 15, 20, or 30 years of insurance for free. Either your family will receive a large life insurance check, or your money back if you live. Choose 15-20 Return of Premium Term for Type of Insurance.

Mortgage Life Insurance is any life insurance policy you want to use to pay off your mortgage. If you want the most economic policy, buy term insurance for 10-30 years. If your want term insurance with a refund of all your premiums to help pay off your mortgage early, the Return of Premium Term may be best. If you want a policy that will pay off your home no matter how long you live, Universal life insurance may be best. Most all of these policies include a critical illness rider that will allow you to take some of the life insurance proceeds early, to pay off your home or to help make your mortgage payments due to a critical  or terminal illness. Use the quote engine above to find out which policy you feel is the best type for your situation or call us at 800 657 7178 for free advice.

Single Premium Life Insurance is a paid up life insurance policy you pay for with a single payment.No additional payments are necessary. Just one payment guarantees the policy will remain inforce for your whole life. Instead of risking your money in the stock market, or waiting 21 years for your money to double(assuming 3% interest), you can substantially increase your money immediately, with a Single Premium Life Insurance Policy.

Drake Life Insurance Group  6400 FM 2147 suite 206 in Horseshoe Bay TX. 78657.

Owner William Curtis Drake is licensed in 41 states and refers licensed life insurance agents in all states except  Alaska, Connecticut, Delaware, DC, Hawaii, Massachusetts, Maine, New Hampshire, New York, Rhode Island, and Wyoming. The following agent license numbers are provided for William C. Drake as required by state law: TX agent # 738897, MD agent # NPI192988, LA agent # 223065, UT agent # 200629, MN agent # IN-436218 and CA agent # OE50224.

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