TYPES OF LIFE INSURANCE

Term life is the most affordable type of insurance when initially purchased, is designed to meet temporary needs. It provides protection for a specific period of time and generally pays a benefit only if you die during the term.

 Loans, credit card debt, estate cost, the funeral… most people leave behind unpaid expenses when they die, expenses that,eft unattended, burden their families tremendously. 

Whole life is a life insurance contract with level premiums that has both an insurance and an investment component. This policy also accumulates a cash value that the policy owner can withdraw or borrow against.

Universal life insurance was created to provide more flexibility than whole life insurance by allowing the policy owner to shift money between the insurance and savings components of the policy. Premiums, which are variable, are broken down by the insurance company into insurance and savings, allowing the policy owner to make adjustments based on their individual circumstances.