Life Insurance Services
Life insurance falls into two primary categories: Term (temporary) and Permanent (lifetime).
1. Term Life Insurance
Simple, affordable protection for a set period.
- Best For: Replacing income during high-need years (e.g., while raising kids or paying a mortgage).
- Duration: Typically 10, 20, or 30 years.
- Key Perk: The lowest cost for the highest coverage amount.
2. Permanent Life Insurance
Lifelong coverage with a built-in savings component (Cash Value).
- Whole Life: Fixed premiums and guaranteed growth.
- Universal Life: Flexible premiums and adjustable death benefits.
- Variable/Indexed: Cash value growth tied to market performance for higher potential (and higher risk).
- Best For: Estate planning, lifelong dependents, or as a supplemental investment tool.
3. Special Purpose Policies
- Final Expense: Small policies to cover funeral and burial costs.
- Group Life: Low-cost coverage offered through your employer.
- AD&D: Pays out only in the event of a fatal or life-altering accident.