Life insurance can be divided into two different categories: permanent and term. Within those categories, there can be many different coverage options. Finding a reputable company that is experienced in life insurance and the many possibilities for coverage can be important in making the right choice for yourself and your family.
Term Life Insurance
Term life insurance can provide a death benefit for a specified period. Unlike other types of life insurance policies, cash value may not build in term life policies, but they can have some of the most affordable premiums and may be more common among younger people who don’t have major health issues or high-risk behaviors.
Permanent Life Insurance and Coverage Possibilities
One of the main differences in term life insurance and permanent life insurance can be found in their names. Permanent life insurance policies tend to be designed to last for the lifetime of the person who is insured, and term life policies tend to be designed to last for a specific period. Permanent life insurance policies can also build cash value, where most term policies cant. When considering permanent life insurance coverage, there can be many options.
- No Medical Exam Coverage
- Variable Life
- Universal Life
- Whole Life
- Burial Insurance Coverage
Researching and understanding life insurance and the many possibilities for coverage can be intimidating, confusing and frustrating. An experienced professional can give you personalized assistance to help you decide on the best option for your specific needs.