Protect Your Family

Types of Life Insurance

Each type of life insurance serves different needs whether it's temporary term protection, lifelong security, or building tax-advantaged cash value. The best choice depends on your goals, budget, and financial strategy.

1. Term Life Insurance

   • Provides coverage for a specific period (e.g., 10, 20, or 30 years)

   • Pays a death benefit if the insured dies during the term

   • More affordable and straightforward; no cash value

   • Ideal for income replacement and short-to-mid-term needs

2. Whole Life Insurance

   • Permanent coverage that lasts a lifetime

   • Includes a guaranteed death benefit and builds cash value over time

   • Higher premiums, but offers stability and lifelong protection

   • Can be used as a savings or borrowing tool

3. Universal Life Insurance (UL)

   • Permanent coverage with flexible premiums and adjustable death benefit

   • Accumulates cash value based on interest rates

   • Offers more flexibility than whole life, but may require more active management

4. Indexed Universal Life Insurance (IUL)

   • A type of UL that earns interest based on stock market index performance (e.g., S&P 500)

   • Provides growth potential with downside protection

   • Often used for tax-advantaged cash value accumulation

5. Variable Life Insurance

   • Permanent coverage with investment options in sub-accounts (similar to mutual funds)

   • Cash value and death benefit can fluctuate based on market performance

   • Offers high growth potential but comes with greater risk

6. Final Expense Insurance

   • A small, whole life policy designed to cover funeral and end-of-life expenses

   • Easier to qualify for, often marketed to seniors