Life Insurance Policy Types

Term Life Insurance or Temporary Policy Coverage

Term life insurance policies provide for life insurance coverage for a specified term of years for a specified premium. The policy does not accumulate cash value. A term life insurance policy is generally considered pure insurance, where the premium buys protection in the event of death and nothing else. Term insurance premiums are typically low because both the insurer and the policy owner agree that the death of the insured is unlikely during the term of coverage.

Whole Life or Permanent life insurance Coverage

Whole life insurance provides for a level premium, and a cash value table included in the policy guaranteed by the company. The primary advantages of whole life are guaranteed death benefits, guaranteed cash values, fixed and known annual premiums, and mortality and expense charges will not reduce the cash value shown in the policy. The primary disadvantages of whole life are premium inflexibility, and the internal rate of return in the policy may not be competitive with other savings alternatives.
FOR LIFE INSURANCE OTHER THAN TERM LIFE INSURANCE PLEASE USE THE QUOTE REQUEST BOX.