Term Life Insurance

Term life insurance is a simple and affordable form of life insurance. It offers coverage for a specific period of time, usually between 10 and 30 years. If the policyholder passes away during the term, their beneficiaries receive a lump sum payout, known as a death benefit.

Whole life insurance is a type of life insurance that provides coverage for the entire life of the policyholder. It also includes a savings component that builds cash value over time. Premiums for whole life insurance are usually higher than for term life insurance.

Universal life insurance is a permanent form of life insurance that includes a savings component that earns interest and can be used to pay premiums. The policyholder has the flexibility to adjust the death benefit and premium payments as their needs change over time.

Variable life insurance is a permanent policy that lets the policyholder invest the cash value in sub-accounts. The policy’s death benefit and cash value can fluctuate depending on the performance of the sub-accounts but may include higher fees and risks than other life policies.

Final expense policies are a type of whole life insurance that is designed to cover funeral and burial expenses. These types of policies typically have a lower death benefit than other types of policies and may not require a medical exam to be approved.