There are many types of Life Insurance. The two main are term, and whole life.
1. Term insurance is the cheapest and most straight forward. You are covered only for a specified amount of time. Term insurance is the ideal fit if your goal is to be insured until your dependents are old enough to take care of themselves.
2. Permanent insurance (Whole Life) this type of insurance is more expensive but guarantee’s that you are insured until death. This is ideal for those who are using their life insurance as part of their estate planning. However due to newer products this also may be a great source of income for retirement, and childrens education plans.
When looking at Insurance or any type of investment it's important an professional sits down with you to really see what your situation is currently to help you best.
1. Term insurance is the cheapest and most straight forward. You are covered only for a specified amount of time. Term insurance is the ideal fit if your goal is to be insured until your dependents are old enough to take care of themselves.
2. Permanent insurance (Whole Life) this type of insurance is more expensive but guarantee’s that you are insured until death. This is ideal for those who are using their life insurance as part of their estate planning. However due to newer products this also may be a great source of income for retirement, and childrens education plans.
When looking at Insurance or any type of investment it's important an professional sits down with you to really see what your situation is currently to help you best.
