What Is Life Insurance?
Life insurance is a financial plan that allows you peace of mind for yourself and your family. There are numerous types of life insurance. Life insurance is a contract between you and the insurance company where you pay a premium (payment) that is due monthly, quarterly, or annually and they, in turn, pay out a tax-free lump sum to your beneficiaries upon your death.
Types of Life Insurance
Although there are various forms of life insurance, the two main types are Term Life Insurance and Universal Life Insurance. Term life is an insurance that you buy for a set amount of time and expires when your term is up. Whole life is permanent insurance that lasts as long as you make payments.
|Policy Type||Gender||Age||Coverage||Cost Per Month|
|30 Year Term Life||Male||40||$500,000||$52.82|
What Do You Want In A Life Insurance Policy?
|Lowest Price||Length of Coverage||Simplicity||Cash Value||Investment Vehicle||Flexibility|
|Term Life||Universal Life||Term Life||Universal Life||Universal Life||Universal Life|
Try our life insurance calculator to figure out how much insurance you need.