Navigating Life Insurance
Term Life Insurance
Term life insurance provides coverage for a specific period — typically 10, 20, or 30 years. It's generally the most affordable option and is ideal for covering income replacement, mortgage protection, or providing for children during their dependent years.
Whole Life Insurance
Whole life insurance provides permanent coverage with a cash value component that grows over time. Premiums are higher than term, but the policy never expires and can serve as a financial asset.
Universal Life Insurance
Universal life insurance offers flexible premiums and death benefits with a cash value component tied to market interest rates. It provides more flexibility than whole life but requires active management.
Final Expense Insurance
Final expense insurance (also called burial insurance) is a small whole life policy designed to cover end-of-life costs. It's popular among seniors and typically has simplified underwriting with no medical exam required.