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Life Insurance
Life insurance provides financial security and peace of mind for you and your loved ones by replacing income in the event of a premature death.
If you are the primary wage earner in your family, life insurance can help your family pay bills and cover expenses.
What types of personal life insurance are available?
Life insurance policies are generally divided into two categories: term life and whole life. Whole life policies combine life insurance with cash or account value accumulation, while term life insurance policies, typically, do not.
Term Life
Term Life lasts for a set period of time (for example, until you’re 60 or 65) and is usually paid for in monthly premiums.
Whole Life
Whole Life includes a range of options, including variable and universal policies, which are connected with different types of investments and have different benefits and restrictions. Because whole life is tied to an investment and can earn returns, it’s more expensive to purchase than term insurance.
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