Term Life: A term life insurance policy offers affordable, straightforward protection that lasts a defined period of time. Term life insurance is often the lowest priced coverage option, but it is temporary. It designed to help replace your income if you pass away during earning years. Your family can use the death benefit to help pay for expenses like housing, childcare and groceries.

With term life insurance, you'll have:

• A tax-free death benefit
  Provides your family stability at the very time they will need it most.
• Affordable rates & payments
  Plans start as little as $15.09 per month for 20 years at $250,000.
  
• Flexible policy lengths
  You can choose a term length between 10 and 40 years.
• Flexibility to convert to permanent insurance
  Switch to longer term protection in the future as provided by policy provisions.

Universal Life: A universal life insurance policy offers flexible protection that can last up to your lifetime and includes various cash accumulation options. If you want lifelong coverage, but with flexibility down the road, universal life insurance may be a good option.

This type of permanent life insurance offers:

• Death benefit protection
  As long as you pay the sufficient premiums, your protection never ends.
• Built-in flexibility
  You can increase or decrease your death benefit to meet your changing financial needs so long as sufficient premium is paid to keep the policy in force.
  
• Expanded cash value options for certain policies
  Some universal life policies provide that the cash value can be linked to the broad performance of stock market index funds, but with limits on how much you can gain or lose. Or, you can choose a guaranteed annual return option. It even offers flexibility to have a combination of both.

Whole Life: A whole life insurance policy offers predictable lifelong protection with the most guarantees, including a fixed premium and death benefit. Whole life policies provide that the amount of life insurance coverage you buy at the start of the policy remains the same throughout your lifetime. The cost is fixed, based on your age when you buy it. And the money paid to your family when you die is generally income tax free.

This type of permanent life insurance offers:

• Death benefit protection
  As long as you make the required payments, you can rest assured that your beneficiaries will receive the death benefit if pass away.
• For participating policies, these earnings can be received in cash, accumulated at interest, used to buy additional life insurance or to help reduce premium payments or pay outstanding loans.
  
• Guaranteed cash value
  This policy's savings component allows the cash value to increase regardless of market conditions.

Variable Universal Life: A whole life insurance policy offers predictable lifelong protection with the most guarantees, including a fixed premium and death benefit. Whole life policies provide that the amount of life insurance coverage you buy at the start of the policy remains the same throughout your lifetime. The cost is fixed, A variable universal life insurance policy typically includes different investment options for your cash value, as well as flexibility in your death benefit.

This type of permanent life insurance offers:

• A wider range of investment options
  Have the freedom to decide where to invest your cash value. Choose subaccounts similar to mutual funds or fixed accounts. This comes with higher growth potential, and increased risk.
• Full market participationNo limits on how much cash value you can gain or lose like other universal life products. The value of your policy depends on the market performance of your subaccounts. Your cash value growth is not limited, but like other investments, there is also potential to lose value.
  

What is the difference between term life insurance and permanent life insurance? Term life and permanent life are the two main types of life insurance policies. Both offer a tax-free death benefit to your beneficiary/beneficiaries if you pass away. Term life insurance provides coverage for a set period of time and is often the lowest priced coverage option. Permanent life insurance provides the security of lifelong protection and can also build cash value over time.

How can life insurance help protect my family? Life insurance can help protect your family members when they suffer the loss of a breadwinner or stay-at-home parent. Life insurance allows a family to help maintain its standard of living by providing income-tax-free money to help pay for funeral expenses, pay off the mortgage, set aside college tuition for the kids and help provide financial peace of mind after the loss of a loved one.

Can life insurance be affordable on a tight budget? It certainly can. The misconception about the price of life insurance is the main reason many people opt-out. Consumers think life insurance costs nearly three times the actual price, according to a report by the nonprofit Life Happens. Premiums depend on many factors, including your age and health, so it's advised to look into life insurance now rather than waiting until you are older.

Can I adjust my life insurance plan or is it set in stone? It depends on the type of life insurance policy that you have. Call us today at (281) 855-2228 to determine the right type of life insurance policy for your needs.