What is Life Insurance?

 

Life insurance is a financial protection policy for your family that gives them a tax-free cash payment if you die while the policy is in effect.

Term Life Insurance

Term life gives you protection for a specific number of years.  It can be used to protect a fixed expense like a mortgage or to provide coverage while you have dependents.

Whole Life Insurance

Whole life insurance is generally a more expensive product that provides protection for the entirety of your life as long as premiums are paid.  It can contain a cash value component that can be utilized during your living years.

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(How much $$ you need)

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Types of Life Insurance.

Here’s a summary of some of the basic features and differences between the different types of life insurance.

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