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Life Insurance

Whole Life - A form of permanent life insurance, whole life insurance features guaranteed premiums, death benefits, and cash value. Whole life insurance policies also give you the potential to receive dividends, which can increase the value of the policy when the insured is living or provide an increased death benefit for your beneficiaries.

  • Protection for life
  • Payments that stay the same each year
  • To be able to put additional money into the policy on a tax-favored basis
  • Cash value you can use while you are living

Term Life – A form of life insurance that offers protection for a specific term, usually 10, 20 or 30 years, in which the payments during this period are level. You may want to consider a term life insurance policy to:

  • Get maximum coverage at an affordable price
  • Cover specific financial responsibilities like a mortgage or college expenses
  • Supplement a permanent policy or work policy

You can also convert it to permanent life insurance, which builds cash value and may earn dividends.