There are many types of life insurance in the marketplace.
Term life insurance only provides a death benefit for a fixed or limited period of time.
In contrast to the permanent insurance can provide a death benefit and the potential to build policy cash value that you can access during your lifetime using policy loans and withdrawals. In addition, permanent insurance can offer the flexibility to increase or decrease your death benefit as your needs change with the potential to reduce or skip premium payments.
- Universal Life
- Whole Life
- Index Universal Life
- Survivorship Life
Life Insurance Riders –
- Accelerated Benefits Rider – Need for Cash in the event of illness or injury
- Additional Insurability Option – Options for more coverage if change in health
- Overloan Protection Rider – Take income without risk of policy lapse
- Lifetime Income Benefit Rider – Supplement retirement income
- Death Benefit Protection Rider – Guaranteed death benefit protection for some period of time
- Accidental Death Benefit – Additional protection in the event of an accident
- Waiver of Specified Premium / Waiver of Monthly Deduction – Protection in the event of disability.
Accelerated Benefits Riders –
- Terminal Illness
- Chronic Illness
- Critical Illness
- Critical Injury