Overview
Life insurance provides a tax-free payment (the death benefit) to your beneficiaries when you pass away. It helps replace lost income, pay off debts, cover final expenses, and protect your family's financial future.
Key Details
What You Should Know
Term Life
Coverage for a set period — typically 10, 20, or 30 years. It's usually the most affordable option and pays out only if you pass away during the term. Great for covering income replacement during your working years.
Whole Life
Permanent coverage that lasts your entire life and builds cash value you can borrow against. Premiums are higher than term but remain level for life.
Universal Life
Flexible permanent coverage with adjustable premiums and a cash value component that grows tax-deferred. You can adjust your death benefit and payments as your needs change.
Official Resources
