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Life Insurance
Whole • Term • Perm/Variable • Juvenile
What type of life insurance do I need?
Whole Life
Whole life insurance provides coverage for the life of the insured. In addition to paying a death benefit, whole life insurance also contains a savings component in which cash value may accumulate. These policies are also known as “permanent” or “traditional” life insurance.
Term Life
Term life insurance works by guaranteeing financial protection for your family over a specific term, typicall between 10 and 30 years. If you die before the term ends, your beneficiary receives a death benefit, a tax-free lump sum of money that can be used for funeral costs, to pay bills, or for any other purpose.
Perm/Variable Life
Variable life insurance, also called variable appreciable life insurance, is a type of permanent life insurance that provides lifelong coverage as well as a cash value account. Policies have higher upside potential of earning cash than other permanent life insurance policies and policy holders get to decide how to invest the cash value.
Juvenile Life
Juvenile life insurance is permanent life insurance that insures the life of a child. It is a financial planning tool that provides a tax advantaged savings vehicle with potential for a lifetime of benefits.
Types of Life Insurance
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