Term life insurance provides coverage for a specific period, typically 10, 20, or 30 years. It is an affordable option for those looking to secure financial protection for a set period. This type of insurance is ideal for covering short-term needs such as mortgage payments or children's education costs.
Whole life insurance offers lifelong coverage with the added benefit of cash value accumulation. It provides both a death benefit and a savings component that can be used for loans or as an investment. This type of policy can be an excellent choice for those looking to build wealth while ensuring financial security for their loved ones.
Universal life insurance offers flexible premiums and death benefits, along with a savings component that grows based on market interest rates. This flexibility makes it a suitable option for individuals, whose financial situations may change over time, allowing adjustments to the policy as needed.
Variable life insurance allows you to invest the cash value component in various investment options, providing potential for growth. This type of policy can be beneficial for those comfortable with investment risks and seeking higher returns.
