Whole life insurance is designed to last for the rest of your life. A guaranteed death benefit for your policy’s beneficiaries, and over time, these policies build cash value that grows tax-free. This “living benefit” can be accessed for emergencies, help put children through college, or to supplement retirement income by taking a policy loan against the cash value.
Term life insurance is the most simple and affordable life insurance option. It provides coverage for a set period of time or “term” (typically 10–30 years), and is designed to protect your dependents during that term. If you pass away during the term period, your beneficiaries receive a cash payment referred to as the “death benefit” to cover expenses or income loss related to your passing.
Final expense life insurance is intended to cover final expenses. The death benefit is usually used to pay for final medical bills and other end-of-life expenses, like burial or cremation, items like caskets and urns. Policy never expires and remains active as long as you pay your premiums.
Offer employees a financial safety net for a fixed period of time. Offers a variety of solutions that help balance cost with employee needs. Plans are tailored to meet employers’ needs with a choice of basic (employer-paid) or voluntary (employee-paid) or a combination of the two.