Life insurance can be either temporary or permanent. Temporary life insurance is most commonly known as Term Life and expires at the end of the term period. Permanent life insurance does not expire as long as you keep making premium payments. Some common types of permanent insurance are Whole Life, Universal Life, and Final Expense insurance.
Term life insurance is for the people you love. It provides financial security for your family by protecting your present and future income from the uncertainties of life. Term insurance can be purchased in large amounts for a small premium. It is best used for mortgage protection, to pay off a loan, and maintaining a standard of living for surviving family members and loved ones. In most states, companies offer term insurance with level premiums for 5, 10, 15, 20, 25, and 30 year periods. You also have the option of choosing no medical exam or full underwriting. The no exam option is more expensive. Most people start out with term life and then convert to permanent over time. Some get a combination of both to take advantage of lower rates while younger. We can help you decide what’s best for you.
Permanent life is more complex and requires a consultation to get the best design. Please provide your contact information and we will get back to you as soon as we can.