Family First Life Insurance is an insurance marketing organization (IMO) based in Uncasville, Connecticut. its mission to put families first since its founding in 2013 by Shawn Meaike. By partnering with top-rated insurance carriers like Aetna, Aflac, and Lincoln Financial, Family First Life provides a range of products, including mortgage protection, final expense, indexed universal life, and fixed indexed annuities.
With over $50 billion in life insurance and more than 500 million families helped, the company has established itself as a significant player in the industry (Family First Life). This article explores Family First Life’s offerings, operations, benefits, and why it might be the right choice for your family’s financial protection.
Table of Contents
History and Background
Family First Life was established in 2013 by Shawn Meaike, with a vision to provide families with accessible and reliable insurance solutions. Headquartered in Uncasville, Connecticut, the company operates as an IMO, meaning it doesn’t underwrite its own policies but partners with leading insurance carriers to offer a diverse portfolio of products.
Since its inception, Family First Life has grown rapidly, now working with independent agents in all 50 states. Its impressive track record includes placing over $50 billion in life insurance, helping over 500 million families, and generating over $500 million in premiums sold (Family First Life).
The company’s growth is driven by its commitment to empowering independent agents with training, resources, and high commission rates—up to 145% in some cases. However, its multi-level marketing (MLM) structure has sparked some debate, with some agents praising the flexibility and earning potential, while others criticize the cost of leads and the competitive nature of the model (Indeed Reviews).
Products and Services Offered
Family First Life offers a variety of insurance products tailored to meet the diverse needs of families. Below is a detailed look at each:
Mortgage Protection Insurance
Mortgage protection insurance is designed to pay off a family’s mortgage if the policyholder passes away during the policy term. This ensures that the family home—a significant asset—remains secure.
For example, if you have a $200,000 mortgage, a matching policy could cover the outstanding balance, allowing your family to stay in their home without financial strain. Family First Life partners with top carriers to offer competitive mortgage protection policies, often with affordable premiums compared to whole life insurance.
Final Expense Insurance
Final expense insurance, sometimes called burial insurance, covers end-of-life costs such as funerals, medical bills, and other expenses. These policies typically range from $5,000 to $25,000 and are popular among older adults or those with health issues, as they often don’t require a medical exam. In the U.S., funeral costs can average $7,000 to $10,000, making this coverage essential to prevent families from dipping into savings or taking on debt.
Indexed Universal Life Insurance
Indexed universal life (IUL) insurance is a type of permanent life insurance that combines lifelong coverage with investment potential. The cash value of the policy grows based on a stock market index, like the S&P 500, but is protected from market losses. This makes IUL a flexible option for families who want both protection and the opportunity to build wealth for future needs, such as retirement or education costs.
Fixed Indexed Annuities
Fixed indexed annuities are retirement savings products that offer guaranteed income with potential growth tied to market indices. Unlike variable annuities, they protect the principal from market downturns, making them a safer choice for conservative investors. Family First Life’s annuities help families plan for a secure retirement while benefiting from potential market gains.
| Product | Purpose | Key Features |
| Mortgage Protection | Pays off mortgage if policyholder dies | Affordable, term-based, tied to mortgage balance |
| Final Expense | Covers funeral and end-of-life costs | No medical exam, $5,000-$25,000 coverage |
| Indexed Universal Life | Lifelong coverage with investment growth | Cash value tied to market index, flexible |
| Fixed Indexed Annuities | Retirement savings with guaranteed income | Principal protection, market-linked growth |
How Family First Life Works
Family First Life operates through a network of independent contractor insurance agents who are trained to sell its products. These agents are not employees but partners who benefit from the company’s support, including free training, marketing tools, and access to top carriers. Agents work flexibly, often remotely, and earn commissions based on the policies they sell, with rates as high as 145% (Family First Life USA).
For customers, the process is simple:
- Contact an Agent: Reach out through the Family First Life website or a local agent.
- Discuss Needs: The agent evaluates your financial situation and goals.
- Choose a Policy: Select from the company’s range of products.
- Apply and Get Covered: Complete the application with the agent’s help, and once approved, your coverage begins.
This model ensures personalized service, as agents can offer products from multiple carriers to find the best fit for each family.
Benefits of Choosing Family First Life
Family First Life offers several advantages for families seeking insurance:
- Diverse Product Range: From mortgage protection to retirement planning, there’s a solution for every need.
- Personalized Service: Independent agents provide tailored advice and support.
- Nationwide Availability: Agents operate in all 50 states, ensuring accessibility.
- Trusted Partners: Partnerships with top carriers like Mutual of Omaha and Transamerica guarantee reliable coverage.
- Community Impact: The company supports over 30 charities, including Make-A-Wish and The Dream Center, aligning with its family-first mission (Family First Life).
However, the MLM structure has drawn mixed reviews. Some agents report high earning potential and flexibility, while others note challenges with purchasing leads, which can be costly and sometimes recycled.
The Importance of Life Insurance for Families
Life insurance is a cornerstone of financial planning for families. It provides a safety net that can:
- Replace Income: Ensure your family maintains their lifestyle if you pass away.
- Cover Debts: Pay off mortgages, loans, or credit card balances.
- Fund Future Goals: Support children’s education or other long-term expenses.
- Handle Final Expenses: Cover funeral costs, which can be significant.
Family First Life’s products are designed to address these needs, offering peace of mind that your loved ones will be financially secure.
How Life Insurance Works
Life insurance is a contract where you pay regular premiums, and the insurer pays a death benefit to your beneficiaries if you die during the policy term. There are two main types:
- Term Life: Covers you for a set period (e.g., 10 or 20 years). It’s affordable but expires if you outlive the term.
- Permanent Life: Covers you for life and includes a cash value component that grows over time.
Family First Life’s indexed universal life is a type of permanent insurance, offering flexibility and investment potential. For example, the cash value can grow based on market performance but is protected from losses, making it a balanced option for long-term planning.
Choosing the Right Life Insurance Policy
Selecting the right policy involves several steps:
- Assess Your Needs: Estimate coverage based on income, debts, and future expenses. A common guideline is 10-15 times your annual income.
- Understand Policy Types: Compare term, whole, and universal life insurance.
- Consider Your Budget: Premiums depend on age, health, and coverage amount.
- Consult an Agent: Family First Life’s agents can guide you to the best policy.
Regularly review your coverage as life changes, such as marriage or having children, may require adjustments.
Charitable Initiatives
Family First Life is committed to giving back, having donated to over 30 organizations, including Make-A-Wish and The Dream Center. Its annual convention includes networking and training, with proceeds from ticket sales supporting charities like The Dream Center. This commitment enhances the company’s trustworthiness and aligns with its family-focused mission.
Frequently Asked Questions (FAQ)
- What is life insurance?
A contract where you pay premiums, and the insurer pays a death benefit to your beneficiaries upon your passing. - Why is life insurance important for families?
It covers expenses like mortgages, education, and daily living costs, ensuring financial stability. - What products does Family First Life offer?
Mortgage protection, final expense, indexed universal life, and fixed indexed annuities. - Is Family First Life legitimate?
Yes, it’s an accredited IMO founded in 2013, with BBB accreditation. - Can I get life insurance without a medical exam?
Yes, final expense insurance often requires no medical exam. - How much coverage do I need?
Typically, 10-15 times your annual income, depending on your family’s needs. - What’s the difference between term and whole life insurance?
Term life covers a set period; whole life covers your entire life with cash value growth.
Conclusion
Family First Life Insurance is a trusted option for families seeking financial protection. Its range of products, from mortgage protection to fixed indexed annuities, addresses diverse needs, while its network of independent agents ensures personalized service.
Despite some criticism of its MLM structure, Juno, the company’s focus on family-first solutions and charitable efforts make it a compelling choice. With a strong track record and nationwide presence, Family First Life is a reliable partner for securing your family’s future.
