Life Insurance
There are several different types of life insurance products to choose from. Below is a list of some of the most common life insurance policy types and some information to help you decide which life insurance policy is right for you. Also, Please feel free to fill out our life insurance quote form and a qualified, independent life representative will contact you to help decide which policy is the best fit for your specific needs.
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Term Life Insurance
Term Life Insurance is designed to provide a death benefit payout to your beneficiaries in the event of your death. This death benefit amount is guaranteed for a predetermined length of time, usually between 5-30 years, depending on your specific needs. The death benefit amount is determined when the policy is applied for and the beneficiary will receive the death benefit amount when/if the insured individual dies during their specified term. Premiums are usually level (unchanging) for the entire length of the policy. Whole Life Insurance
Whole Life Insurance is insurance designed to cover your entire life span. Unlike term insurance, which will only provide coverage for a predetermined amount of time, whole life provides coverage for as long as you live, provided you make the premium payments as specified in the policy. Whole life Insurance also builds cash value and is a great way to provide many benefits in addition to your guaranteed death benefit, including long term care and retirement benefits.
Return of Premium Life Insurance
Return of Premium Life Insurance is a new version of term life insurance that provides both death benefit protection, as well as, a return of premium feature. What this means is that if you keep your policy for the entire term period, whether that be 10, 20 or even 30 years, the insurance company that issued your policy will return all of the premiums that you've paid into the policy once your term has completed.
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