There are two basic types of life insurance

Term Life Insurance covers you for a period of time—or term—that you choose.  Permanent Life Insurance offers a few more variations, and provides a lifetime of coverage. Each has benefits that may be important to you depending on the ifs in your life.

Term life insurance is the least expensive type of coverage, at least initially, and the simplest. Coverage is in effect for a fixed term or period of time—typically 1 to 30 years—and usually can be renewed. The policy pays your beneficiary a fixed amount of money if you die during the term of the policy. The premiums are lowest when you are young and generally increase upon renewal as you age. These policies do not build up a cash value. For more information contact our office

Whole Life insurance provides protection as well as a cash value. Your  premiums remain at a fixed level for the duration of the contract. Over time, the policy builds up cash value on a tax-deferred basis. It may also provide for dividends (which are not guaranteed), that can be used to add more coverage, can build a cash-value that you can use to supplement your retirement income or help provide for a child's education—it's your money to use as you need.¹ But keep in mind life insurance should not be purchased solely for cash-value accumulation; its primary purpose is protection. 
For more information contact our office