Life Insurance

Affordable Protection for a Specific Period of Time

Term life insurance provides coverage for a specific period, such as 10, 20, or 30 years. If the insured person dies while the policy is in force, the policy’s death benefit is generally paid to the designated beneficiaries.

Term life insurance is often an affordable way to provide substantial financial protection.

Term Life May Be a Good Choice For:

• Young families

• Parents with children at home

• Income replacement

• Mortgage protection

• Paying off debts

• Funding future education

• Providing financial protection during working years

• People looking for affordable life insurance

Key Advantage: Generally provides a larger amount of coverage for a lower initial premium than many permanent life insurance policies.

Lifetime Protection With Cash Value

Whole life insurance is a type of permanent life insurance designed to provide coverage for the insured’s lifetime, subject to the policy’s terms and conditions.

Whole life policies typically included a cash value component that may accumulate over time.

Whole Life May Be Used For:

• Lifetime financial protection

• Final expenses

• Estate planning

• Leaving money to loved ones

• Creating a financial legacy

• Supplementing other financial strategies

  Key Advantage: Provides permanent life insurance protection and generally has a cash value component.

Universal life insurance is permanent life insurance that may offer flexibility in premium payments and death benefit options, depending on the policy.

Some universal life insurance policies also build cash value, with the potential for the cash value to grow based on the policy’s terms and credited interest.

Universal Life May Be Considered For:

• Long-term financial planning

• Permanent life insurance needs

• Estate Planning

• Wealth transfer

• Flexible coverage needs

• People looking for permanent coverage with additional flexibility

  Important: Universal life policies can be more complex than term life insurance. Policy performance, costs, interest crediting, and other factors can affect the policy over time.

Help Cover End-of-Life Expenses

Final expense insurance is designed primarily to provide funds for expenses that may occur at the end of life.

The benefit can help loved ones with costs such as:

• Funeral and burial expenses

• Cremation expenses

• Medical or final bills

• Outstanding personal debts

• Other end-of-life expenses

Final expense policies are often designed with smaller death benefits than traditional life insurance policies.