There are many types of life insurance that come at different costs. Each has specific purposes and reflects a different design, but all aim to provide financial security to your beneficiaries. All types of life insurance provide a tax-free benefit to the beneficiary.
Types of Life Insurance
Term Life
The most basic type of life insurance, term life is an excellent option for many young couples and individuals — typically the least expensive. Term life provides coverage for a specific period of time (such as 15, 20 or 30 years) and pays a death benefit only if the policyholder passes away during the term.
Learn More About Term LifeIndexed Universal Life (IUL)
Universal life allows you to pay premiums at any time, in virtually any amount. Over time, you can increase or reduce the death benefit as your needs change. This option provides flexibility and can work well even if your financial situation changes — while also building cash value tied to market indexes.
Learn More About IULWhole Life
Designed to cover your entire lifetime, whole life builds cash value on a tax-deferred basis. The cash value can be accessed by the policy owner for extra income, emergencies, or college expenses. Amounts withdrawn and not repaid will be deducted from the policy's death benefit.
Get a QuoteFinal Expense
Final expense is a form of whole life insurance coverage that covers the various costs associated with death and end-of-life expenses — including funeral costs, credit card balances, car loans, mortgage loans, legal fees, and other expenses. It's an affordable way to protect your family from financial burden.
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