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What is Life Insurance?
Life insurance can offer financial protection for your beneficiaries by providing a death benefit either upon your passing or at the end of a specified term, depending on the policy type. The proceeds from a life insurance policy can be used to help cover a variety of expenses, including education costs, outstanding debts such as a mortgage, final expenses, or potential estate-related obligations.
Types of Life Insurance
Not sure where to start?
There are two (2) main types of life insurance: term life insurance and permanent life insurance.
Term life insurance provides coverage for a specific period, such as 10, 20, or 30 years, depending on the policy selected.
Permanent life insurance includes two main types: Whole Life and Universal Life insurance.
Term Life Insurance
Help Provide Financial Protection for Your Family
Term life insurance is often considered a cost-effective option for providing financial protection to your loved ones in the event of your passing.
It offers coverage for a set period—commonly 10, 15, 20, or 30 years—and is designed to pay a death benefit to your beneficiaries if the insured dies during the term of the policy
PERMANENT LIFE INSURANCE
Help Protect Your Long-Term Financial Goals
Universal life insurance is a type of permanent coverage that generally offers greater flexibility than whole life insurance. It may have lower costs and includes the potential for cash value accumulation. Policyholders can adjust elements such as premium payments and death benefit amounts, subject to the terms and conditions of the policy, to help meet their changing financial needs over time.