Term Life Insurance:

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Best for: Most people. Term life insurance is a simple, low-cost policy, and its main purpose is to replace your income when you die or leave behind a larger sum of money to pay of debts.

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How it works: Term life insurance is typically sold in lengths of 1, 5, 10, 15, 20, 25 or 30 years. Coverage amounts vary depending on the policy but can go into the millions. Most people buy term life insurance for a length long enough to cover their prime working years. That way if something happened to them their family has enough money to replace that income or pay off remaining debts.

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Whole Life Insurance

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Best for: Those who want permanent policy and can afford the higher premiums.

 

How it works: Whole life insurance typically lasts your entire life, as long as you keep up with premiums. You'll have a fixed premium that won't change over time and you get a guaranteed rate of return on the policy’s cash value, and the death benefit amount doesn’t change.

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Universal Life Insurance

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Best for: People who want permanent life insurance that can be flexible in the future.

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How it works: Generally, this type of coverage allows you to adjust your premiums (within limits) and has a cash value component that grows based on market interest rates. Premiums typically increase over time, forcing you to increase your premium payments or cover rising costs by subtracting from your cash value account or death benefit. 

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Final Expense Whole Life Insurance

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Best for: People who want to cover their own funeral, burial and other end-of-life expenses.

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How it works: Also known as burial insurance it is a small whole life insurance policy that is meant to help your family pay for your funeral, burial and other expenses after your death, like outstanding medical bills. The death benefit is guaranteed and typically ranges from $5,000 to $25,000.

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  If you would like to discus these options in more detail to see what works best for your

needs please reach out and Id be happy to help