Life Insurance
Who will look after and take care of your family after you are no longer here and able to? Leave a legacy, not a mountain of debt. The two main Life Insurance policies fall into either Term Insurance or Permanent Insurance.
Term Insurance
Term for a specified time, or temporary. This plan provides insurance for a specific period of time (term) and typically only pays the beneficiary if you die during that term. This is a good policy if you only need life insurance for a certain time. For example, until your kids are out of college, or until the mortgage is paid off.
Permanent Insurance
Permanent Insurance provides lifelong protection. The full amount will be paid out upon death if your premiums are up to date, no loans, withdrawals, or surrenders are taken. This plan is designed for you to keep over a long period of time so it accumulates cash value because it is designed to last a lifetime.