Term or whole life. We help you decide which is right for your family.
Term Life Insurance Whole Life Insurance
What is it?
Term life insurance provides protection for a specified period of time (e.g., 5, 10, 15, 20, or 30 years) at a lower initial cost.
Whole life insurance provides protection for your entire lifetime and accumulates a cash value that the policy owner can borrow against.
Who should consider this coverage?
Want to protect your family from financial hardship in the event of your death
You are underinsured and want to supplement your coverage
You want to be covered for your entire lifetime
You want your policy to build up a cash value that you can borrow against
What are the benefits?
Lower initial cost than whole life insurance
No medical exam required in most cases
Premiums do not increase with age
Builds cash value
Independent from employment and/or pension plans. You own it.
What are the considerations?
Does not build cash value
Coverage ends when policy expires
Premiums may increase with age
Initially higher premiums than term coverage
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