Term:
Level term life is the most common and recommended term insurance. Term insurance provides coverage (face amount) for a limited period of time for a fixed premium. Term insurance is the least expensive way to purchase a death benefit to cover an individual. Term life insurance is used to provide coverage for financial responsibilities of the insured.

Whole:
This is permanent insurance that offers a guaranteed death benefit. The price, death benefit, and cash value are guaranteed as long as the premiums are paid. Whole life policies allow you to borrow against the cash value while you are alive.

Universal:
It is a type of permanent life insurance that is based on cash value or can be looked at as a type of term insurance with a savings feature. It offers the policy holder flexibility to change the amount of insurance coverage, the amount of premium and/or the portion of premium added to the savings feature.

Variable:
This type of insurance allows you to participate in investment options within the company’s portfolio. Due to the investment risks, variable policies are considered securities contracts. An agent must carry a variable life license to offer this product.

Please contact out office with questions or for further information on any of the products listed above. By asking a couple of questions, we can determine which product best fits your needs. I believe the majority of Americans should own some type of life insurance. A lot of financial burdens could have been avoided with a simple term life policy in place.