Term Life Insurance
Term life insurance is affordable coverage that gives you flexible, temporary protection.
You will be covered for a specific period of time and the cost of your policy is guaranteed for the entire term. If you die while the policy is in effect, your beneficiaries will receive a tax-free payment. In many cases you also have the option to convert your coverage to permanent insurance.
Permanent Life Insurance (Whole Life)
Permanent Life insurance has fixed premiums for the life of the policy. Unlike term life, this type of policy accrues cash value over time. A portion of each premium you pay becomes part of this cash value. The money accumulates on a tax-deferred basis, similar to retirement accounts.