There are two main types of life insurance:

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Term Life

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A term life insurance is one of the most affordable life insurances policy that covers the insured for a specific number of years, commonly known as the "term", as chosen by the individual.

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Term life normally ranges from 10 to 30 years. During the policy coverage years, if the insured dies, the beneficiary receives the payout of the policy. It expires at the end of the term that has been chosen by the individual at the time of getting the term life.

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Since the term life is for the specified number of years only and expires at the end of the term, the premiums are much more affordable than the permanent types of life insurance. Based on the policy, it may be renewed at the end of the term for another specific number of years or may be converted to the permanent policy. However, the premiums after renewing and converting would be based on the attained age at that time.

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The term life policy does not create cash values like some other life insurance policies however the beneficiary receives the entire face amount tax free (based on current tax laws). These days even term life policies come with living benefits that an insured can take advantage of while alive. Please consult with one of our agents to find out more details on it.

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Permanent Life

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Contrary to the term life insurance, the permanent life insurance covers the insured for the entire life. Permanent life insurance policies are expensive than the term life insurance policies as it offers additional saving feature which is known as the cash value. In permanent life insurance policy, the insured does not have to worry about the expiration of the policy, the beneficiary gets paid when the insured dies as long as the premiums are being paid timely.

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Please call us to find out more details on any of the products or book your free Financial Needs Analysis session with one of our experienced agents who will help you understand your needs and will also help you to choose the type of insurance and the benefit amount that is right for you.