Life Insurance
What are the different types of Life Insurance?
There are four main types of Life Insurance. We’ll find the right policy to fit your needs.
Term Life Insurance
This coverage lasts for a limited time, typically 10, 20, or 30 years. It’s very easy to get a quote and buy term coverage, and it’s also more affordable than whole life or universal life insurance.
Universal Life Insurance
Universal Life Insurance provides permanent coverage and includes a death benefit and cash value component.
Whole Life Insurance
This is permanent life insurance coverage that can provide guaranteed protection for the rest of your life while earning additional cash value that can be used for policy loans. Whole life policies don’t expire as long as your regular premiums are paid. Policies from a mutual life insurance company may also provide dividends, helping you fund life’s other financial opportunities.
Index Universal Life Insurance(IUL) IUL insurance policies can help you to build tax-free retirement income while leaving behind a death benefit for your loved ones. The policy also offers options to change death benefit amounts or adjust premium payments within certain limitations.