Life Insurance is the foundation of financial security for you and your family. It protects your financial resources against the uncertainties of life so you can plan for the future with confidence.
There are two basic types of life insurance:
- Temporary Insurance – Otherwise know as Term Insurance (Annual Renewable to 30 Year Term or Longer & ROP)
- Permanent Insurance – Whole Life or Universal Life (Cash Value Plans)
If you purchase life insurance, the insurance company will pay a death benefit to the beneficiary or organization named in the policy when the holder dies. In the case of temporary insurance, your death must be during the policy term.
The choice between temporary and permanent insurance will depend upon your personal goals and objectives. Click one of the above links to read about both !