What is Life Insurance?

Whole life insurance is a type of permanent life insurance that provides coverage for the insured's entire lifetime as long as premiums are paid. It also includes a savings component that grows over time, offering both a death benefit and a cash value accumulation. When properly structured Cash Value policies can function as a privatized banking vehicle, changing how your money flows and grows.

Mortgage protection insurance is designed to pay off your mortgage if you pass away or become disabled. It ensures your home is protected and your family can remain in their home without financial strain.

Juvenile life insurance policies are designed for children and offer coverage that extends into adulthood. They often come with lower premiums and can build cash value over time. These policies can provide lifelong coverage and financial security for the insured child.

Term life insurance provides coverage for a specified period, paying a benefit only if the insured dies during that term. It is generally more affordable than permanent life insurance but does not build cash value. Term policies may have options to convert to whole life within a specific period from initial contract start date.

Cash value in life insurance is the portion of the policy's value that grows over time and can be borrowed against or withdrawn. It represents a savings component that builds up alongside the death benefit.

Accidental death life insurance provides a benefit specifically if the insured dies due to an accident. It typically offers additional coverage beyond a standard life insurance policy. This type of insurance ensures financial support in the event of an unexpected and accidental death.

Indexed universal life insurance is a type of permanent life insurance that offers flexible premiums and a cash value component linked to a stock market index. It provides the potential for higher returns on cash value, with a built-in floor to protect against losses.

Living benefits in life insurance allow policyholders to access a portion of their death benefit while still alive in cases of serious illness or injury. They provide financial support for medical expenses or other needs during a critical period. These benefits offer added flexibility and protection beyond the traditional death benefit.

A fixed indexed annuity offers a guaranteed minimum return while linking growth to a stock market index. It provides a predictable income stream with potential for higher returns based on index performance. This type of annuity balances stability with the opportunity for growth.