- Lasts for a set period (10, 20 or 30 years)
- Less expensive
- Simple policy: You really only need to know three things: the term, the premium and the death benefit
- Premiums might not be fixed (example: renewable term)
Often Used: While your kids are young or for mortgage protection
Types of Term Life Insurance
- Term Life Insurance for Children (TLC)
- Term Life Insurance
Riders Available
- Living Benefit Rider
- Waiver of Premium
- Juvenile Purchase Option
- Primary Insured Term Rider
- Additional Insured Term Rider
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- Last for life as long as the premiums are paid
- More expensive, but not unreasonably so
- Premiums are normally fixed
- Pays benefit no matter how long you live
- Cash value can be taken out as loans*
- Cash value grows tax deferred*
Often Used: As part of your estate plan
Types of Permanent Life Insurance
- Whole Life Insurance - Traditional Life Insurance
- Universal Life Insurance - Flexible premiums and coverage as your life changes
- Final Expense Insurance - Guaranteed acceptance to help cover your final expenses
Riders Available
- Living Benefit Rider
- Waiver of Premium
- Juvenile Purchase Option
- Primary Insured Term Rider
- Additional Insured Term Rider
Learn More
* Cash value loans and withdrawals reduce the death benefit of the policy and are subject to interest and taxes.