There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.

Term insurance, the most affordable type of insurance when initially purchased, is designed to meet temporary needs. It provides protection for a specific period of time (the “term”) and generally pays a benefit only if you die during that term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.

Permanent insurance, by contrast, provides lifelong protection. As long as you pay the premiums and no loans, withdrawals, or surrenders are taken, the full amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep it over a long period of time. It’s impossible to say which type of life insurance is better because the kind of coverage that’s right for you depends on your unique circumstances and financial goals. Often, a combination of term and permanent insurance is the right solution.

Getting Coverage

At first glance, buying insurance can seem so overwhelming that you may be tempted to skip it altogether.

Most people buy life insurance through agents or other financial advisors, and for good reason. Buying life insurance can seem so overwhelming that you may be tempted to skip it. Don’t! Here are the different ways to get coverage so you can choose the best option based on your situation and needs.

Determining how much and what kind of insurance to buy is one of the most important financial decisions you’ll make, but it can also be complicated. A qualified insurance professional will conduct a comprehensive financial needs analysis, and walk you through the multitude of questions you need to consider to determine how much and what kind of insurance is right for you, given your budget. When  you speak with us, there is no financial charge or obligation to buy. We are happy to help and to be a resource to you.