Term Insurance

Term Insurance can be the most affordable type of life insurance to purchase as it is designed to meet temporary needs. It protects for a specific period of time (the "term") and generally pays a benefit only if you die during said term. This type of insurance often makes sense when you need coverage that will disappear at a specific date. For instance, when your children have reached adulthood and your mortgage is paid off.

Final Expense

Loans, credit card debt, estate costs, the funeral... most people leave behind unpaid expenses when they pass. Expenses that are left unpaid can burden their families unnecessarily. Final expense coverage is life insurance that can help to alleviate this stress on your loved ones during an already difficult time.

Universal Life

Universal Life Insurance was created to provide more flexibility than whole life insurance by allowing the policy owner to shift money between the insurance and savings components of the policy. Variable premiums are broken down by the insurance company into insurance and savings, allowing the policy owner to make adjustments based on their circumstances. For example, if the savings portion is earning a low return, it can be used instead of external funds to pay the premiums. Unlike whole life insurance, universal life allows the cash value of investments to grow at a variable rate which is normally adjusted monthly.

Whole Life

Whole Life Insurance is exactly what it sounds like.  It is a life insurance policy with premiums that are locked in based on your age when you purchase the policy and protects you for your "whole" life as opposed to term policies. With whole life insurance, the policy has a component that grows a "cash value".  This component can actually be borrowed against or used to pay premiums in the case of an emergency. The insurance component pays a stated amount upon the death of the insured.