“The graveyards are full of indispensable men!”
When it comes to protecting your loved ones from the financial fall out of premature death, there's no more reliable or less expensive way to guarantee the needed money will be there than life insurance.
However, choices among coverage types are often less than clear. What's right for you can depend on age, health, occupation and who's paying the premiums. In general, there are three categories of life insurance: term life, universal life, and whole life.
Term life is simplest and least expensive. Premiums can remain level for up to thirty years but if you keep it too long, premiums increase sharply. Benefits vary widely from one insurer to another so let us help you understand the differences.
Whole Life Insurance
Whole life insurance provides permanent protection, premiums never increase and because guaranteed values accumulate and belong to you, this coverage pays even if you don't die.
Universal Life Insurance
Universal life is like a hybrid of term and whole life. It can be designed as a low cost temporary solution or as more permanent coverage with accumulating values. Hence, universal life is appealing because it can be redesigned as your needs change.