St. Louis Life Insurance

Invest in the future for you and your family.

Life is full of risks. The last thing you want to do is leave your loved ones in a difficult spot should the worst happen. McNeil Insurance Group, your independent representative, connects you with St. Louis life insurance policies that fit your needs and budget. 

Key Facts About Life Insurance Coverage

If you are just putting your toe into the water of life insurance coverage, you might be feeling a bit overwhelmed. There is a lot of jargon to decipher, and putting a dollar amount on yourself can be disconcerting. To help things make sense, here are the key facts about life insurance you should know. 

Life Insurance
Is for Everyone

And this includes you. Even if you think you are too young or in too good of health to need coverage, the unexpected happens. You want to be prepared in case it does.

Life Insurance Payouts Aren’t Taxed

Unlike other forms of inheritance, life insurance payouts are not taxed. Your beneficiaries will get the benefit after submitting proof of death, and they do not need to report the money as income on their tax returns.

You Can Opt for a Final
Expense Policy

If you don’t have a partner or children, you may be fine with a final expense policy. This coverage pays for expenses related to a funeral and burial so parents and other family don’t have to pay out of pocket.

Some Policies Pay Out Before

With certain riders, you can access your benefits while still living. Typically, this is to cover expenses related to chronic and terminal illnesses. For example, if you are given a diagnosis that states you have less than six months to live, you might be able to use some of your benefits to pay for medications and hospice.

Coverage Should Equal 10 Times Your Annual Income

You want your policy to offer enough money that your family can still live well in the event of your death. By taking out a policy for 10 times your annual income, you ensure they have at least a decade before they need to worry about replacing your income.

Types of Life Insurance Policies


This policy covers a single person. It is typically meant to take care of the financial needs of the surviving family, as well as the funeral expenses of the insured.

Group Life

These types of policies cover a group of people, with the owner usually being a business, labor union, or other larger entity. Like an individual policy, it pays out to the family of the person insured, but it may include additional benefits for the employer as well.

Long-Term Care

Coverage includes the cost of care for chronic conditions and disabilities. Depending on the policy, this can include care at home, in a nursing facility or assisted living center, and even adult daycares


This coverage replaces a portion of your monthly income if you are unable to work due to injury or illness.

Mortgage Protection

Most lenders require that you have mortgage insurance. This covers the unpaid portion of your mortgage in the event of your death.


With this life insurance, benefits only pay out after the last person on the policy passes away. This means that the surviving policyholders do not get the benefits, but their loved ones will.

Key Person

This form of life insurance is taken out by companies on owners or top executives. Unlike most other types of insurance, the beneficiaries aren’t the family of the deceased, but the company itself.