Life insurance can provide financial protection for the people you love. We walk you through the types and amounts of coverage that fit your stage of life.
The right policy depends on what you are protecting, for how long, and what you want it to do beyond a death benefit.
There are three main types of life insurance. Each fits a different need, and many families use a combination as their lives change. Here is how they compare.
Coverage for a set period, often 10, 20, or 30 years. It pays a death benefit if you pass during the term, and it is typically the most affordable way to secure a large benefit during your highest-need years, like raising children or paying down a mortgage.
Permanent coverage for your entire life, with premiums that stay level and a guaranteed death benefit. It also builds cash value over time on a tax-deferred basis, which you can borrow against if needed. Predictable and lifelong.
Permanent coverage with flexibility built in. You can adjust your premiums and death benefit as your needs change, and the policy builds cash value that earns interest. A good fit when you want lifelong protection that can adapt.
| Term Life | Whole Life | Universal Life | |
|---|---|---|---|
| Coverage length | A set term (10 to 30 years) | Your entire life | Your entire life |
| Premiums | Lower, level for the term | Fixed and guaranteed | Flexible, adjustable over time |
| Cash value | None | Builds guaranteed cash value | Builds cash value that earns interest |
| Best for | Maximum coverage during high-need years | Lifelong protection with predictability | Lifelong coverage with flexibility |
This comparison is general and educational. Policy features, guarantees, and costs vary by product and insurer; guarantees are subject to the claims-paying ability of the issuing company. We will help you weigh the right fit for your situation.
Connect in person, virtually, or by phone to discuss your goals. Your first introductory meeting is complimentary.
By providing your contact information, you may be offered information regarding the purchase of insurance and investment products.