TERM
INSURANCE
Term insurance is a type of life insurance that provides coverage for a specified period, ranging from 10 to 30+ years. It is designed to offer financial protection to beneficiaries in the event of the policyholder's death during the term of the policy.
Unlike permanent life insurance, term insurance does not include a savings or investment component, which makes it a more affordable option for most individuals. Premiums are fixed for the duration of the term, and if the policyholder outlives the term, the coverage ends without any payout.
Term insurance is ideal for those seeking a straightforward and cost-effective way to secure financial support for dependents, pay off debts, or cover other financial obligations in the case of an untimely death.
PERMANENT INSURANCE
Permanent life insurance is a type of life insurance designed to provide lifelong coverage while combining a death benefit with a cash value component. It includes various types such as whole life, universal life, and Term 100. Permanent insurance is well-suited for individuals looking for comprehensive financial planning, estate preservation, or lifelong security.
WHOLE LIFE INSURANCE
Whole life insurance offers guaranteed premiums, a fixed or increasing death benefit, and a steadily growing cash value, making it ideal for those seeking life – long stability. In the savings component, interest accumulates on a tax-deferred basis, and you can also borrow or cash in the accumulated value.
UNIVERSAL INSURANCE
Universal life (UL) insurance is a type of permanent life insurance that, like other permanent insurance, has a cash value element and offers lifetime coverage as long as you pay your premiums. Unlike whole life insurance, universal life allows you to pick your investment option which provides more flexibility to your plan, and it can be cheaper than whole life coverage
TERM 100
Term 100 often considered a hybrid solution, provides lifelong coverage with fixed premiums but typically lacks a cash usually with guaranteed values component, making it a cost-effective option for those focused solely on long-term protection.