Term life insurance is a type of life insurance policy that provides coverage for a specified
period, known as the term.
Unlike permanent life insurance policies, such as whole life or universal life, which offer coverage for the
insured’s entire life, term life insurance offers coverage for a predetermined period, typically ranging from 5
to 30 years.
This type of insurance is designed to provide financial protection to your loved ones in the event of your
untimely death during the term of the policy.
Universal life insurance is a type of permanent life insurance that combines a death benefit
with a cash value component.
Unlike whole life insurance, which typically offers fixed premiums and cash values, universal life insurance
provides policyholders with flexibility in premium payments, death benefit options, and the allocation of cash
value among investment accounts.
This flexibility allows policyholders to adjust their coverage and premiums over time to suit their changing
financial needs and goals.
Whole life insurance is a type of permanent life insurance that provides coverage for the
entire lifetime of the insured individual, as long as premiums are paid.
Unlike term life insurance, which offers coverage for a specified period, whole life insurance offers lifelong
protection and includes a cash value component that grows over time.
This cash value accumulation provides policyholders with an additional financial asset that can be accessed
during their lifetime through policy loans or withdrawals.
Long Term Care (LTC) insurance provides financial protection by covering the expenses related
to long-term care services, encompassing a wide range of healthcare needs including nursing home care, assisted
living facilities, in-home care, and various medical services required for chronic illnesses, disabilities, or
conditions necessitating assistance with daily activities over an extended duration of time.
Disability insurance is a type of insurance coverage designed to provide financial protection
in the event of a disabling injury or illness that prevents an individual from working and earning an income.
Disability insurance replaces a portion of the insured individual’s income if they become
disabled and are unable to work, helping to cover essential living expenses, medical bills, and other financial
obligations during a period of disability.
