Understanding the types of life insurance available can help you choose the right policy for your unique situation.

• Term Life Insurance
  Term life insurance is an affordable option that provides coverage for a set period—usually 10, 20, or 30 years. If you pass away during this term, your beneficiaries will receive the death benefit. It’s perfect for those seeking maximum coverage at the lowest cost. However, once the term ends, the policy expires, and you’ll need to renew or convert it.

• Whole Life Insurance
  Whole life insurance is a permanent policy that provides coverage for your entire life, as long as premiums are paid. It includes a cash value component that grows over time, which can be borrowed against or used to pay future premiums. Whole life policies are ideal for those looking for long-term stability and the potential to build wealth.

• Universal Life Insurance
  Universal life insurance combines the flexibility of term insurance with the lifelong protection of whole life. It allows policyholders to adjust the premium payments and death benefits to meet changing needs over time. Universal life policies also accumulate cash value, which grows based on interest rates or investments.