Do you have more questions about which option is the best for you?  Call us or stop by and we would be glad to help you decide what type of policy is best for you, your family and your assets.

Whole Life Insurance

Whole life insurance is a type of permanent life insurance designed to provide for lifetime coverage.  Because of the lifetime coverage period, whole life usually has a higher premium than term life.  Policy premiums are typically fixed, and, unlike term, whole life has a cash value, which functions as a savings component and may accumulate tax-deferred over time.

Universal Life Insurance

Universal life insurance is another type of permanent life insurance designed to provide lifetime coverage.  Unlike whole life insurance, universal life insurance policies are flexible and may allow you to raise or lower your premium or coverage amounts throughout your lifetime.  Like whole life insurance, universal life also has a tax-deferred savings component, which may build wealth over time.  Additionally, due to its lifetime coverage, universal life typically has higher premiums than term.

Term Life Insurance

Term life insurance is designed to provide financial protection for a specific period of time, such as 10 or 20 years.  Typically, premiums are level and guaranteed for that time.  After that period, policies may offer continued coverage, usually at a substantially  higher premium rate.  Term life insurance is generally a less costly option than permanent life insurance.

Life Insurance

Typically, life insurance is chosen based on the needs and goals of the owner.  There are many varieties of life insurance.  Let us introduce you to the more common types.