Permanent Life Insurance, sometimes referred to as “Whole Life,” offers lifelong protection as long as premiums are paid. This type of policy often builds cash value that grows over time. Lifetime Coverage: Stays active for your entire life. Cash Value Accumulation: Part of your premium goes into a savings component. Stable Premiums: Most whole life policies feature fixed premiums. Guaranteed Death Benefit: Your beneficiaries receive a guaranteed payout, no matter when you pass away.

Term Life Insurance provides coverage for a set period (or “term”), making it an affordable choice for short-term needs—like covering a mortgage or income replacement during your working years. Coverage Duration: Fixed number of years (e.g., 10, 20, or 30). Lower Premiums: Typically less expensive than permanent policies. No Cash Value: Pure protection with no savings or investment component. Renewable or Convertible: Some policies let you renew or convert to permanent coverage if your needs change.

Universal Life Insurance is a form of permanent coverage with added flexibility. Premiums and death benefits can be adjusted over time, and the policy often includes an investment or savings element. Flexible Payments: Adjust premium amounts (within limits) to fit your budget. Cash Value Growth: Grows tax-deferred and can be accessed for various financial needs. Potential for Higher Returns: Some universal life policies let you invest in different accounts for growth. Multiple Variations: Includes Indexed Universal Life and Variable Universal Life, each offering unique benefits and risks.

Final Expense Insurance, sometimes called “Burial Insurance,” is designed to cover end-of-life costs such as funeral expenses and medical bills. It’s a straightforward, smaller policy typically suited for individuals age 50 or older. Lifetime Coverage: Often a type of whole life policy with no expiration date. Lower Benefit Amounts: Typically covers funeral costs and other final expenses. Simplified Underwriting: Easier qualification, sometimes with no medical exam. Fixed Premiums: Premiums usually remain the same throughout the policy’s life.