Insurance Life Insurance

Life Insurance Purchasing Guide

    Types

    • The two basic types of life insurance are term life and permanent life. Term life offers temporary insurance coverage. Permanent life offers death benefit coverage for your entire life.

    Benefits

    • Term insurance provides temporary death benefit protection at a very low cost for a set number of years. Permanent life insurance provides death benefit protection to your age 100 (and beyond) along with cash values, which act as a savings.

    Drawbacks

    • Term life insurance premiums are guaranteed to increase after the term is up. Permanent life insurance premiums are higher than term life insurance premiums and may require a lifetime commitment of paying premiums.

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