Term Life Insurance - Term life insurance provides coverage for a specific period of time, known as the term. Term life insurance is often referred to as temporary insurance or pure insurance because there is no cash value, only death benefit protection. You can typically buy term life insurance for a coverage period of between 5 and 30 years. If you die during the policy term, your beneficiary would receive a death benefit equal to the face value of the policy. If you don't die during the policy term, your beneficiary would receive nothing, and your coverage simply ends. At this point, you can either renew your existing policy (subject to a new health evaluation) or purchase a new policy to maintain the same coverage.

There are many times in which term insurance may be the most appropriate choice. If you have a great need for insurance but limited resources, you should consider term insurance. For example, a young family may need a great deal of income to cover living expenses and educational needs if the breadwinner should die. Term insurance would allow the family to buy insurance protection with limited cash outlay. Term insurance is also appropriate if you need coverage only for a limited period, such as while your children are in college, or while your business is in its start-up phase.

Return Of Premium Term Life Insurance (ROP) - ROP term life insurance policies are similar to normal term life insurance in that the premium is guaranteed to remain level over a stated number of years. However, after the end of the level premium period, a normal term policy stops—but the money back term life insurance policy refunds all the premiums paid!

In both ROP Term Life and normal term life insurance, if the policyholder dies, the face amount is guaranteed to be paid to the beneficiary. The advantage of the ROP term policy is that, if the policyholder lives, all of the premiums paid for that policy are refunded at the end of the level premium period.

The bottom line is that although normal term life insurance may have a lower gross premium than ROP term life, return on premium life insurance has a much lower net cost.

You can learn more about Return of Premium life insurance by clicking HERE.

To age 100 Guaranteed (Universal Life) - To age 100 Guaranteed are universal life plans with premiums payable to age 100 and coverage that stays in force until age 100, or longer. The rates are completely guaranteed and can never be increased, regardless of the interest rates paid by the insurance company, or the mortality changes.

Our Universal life plans do not focus on building cash value in a savings account.

Burial Life Insurance (Final Expense or Funeral Expense Insurance) - Burial Insurance, also known as final expense or simplified issue life insurance is essentially a whole life insurance product with a simple application process and small face value. Coverage continues as long as premiums are paid unless you cancel the policy. All policies accumulate cash value, and premiums remain the same.

Typical face values range from from $5,000 to $50,000 although policies can often be written outside of that range.

This type of insurance is designed to be conveniently purchased without the requirement of a medical exam or a complex questionnaire.

Guranteed Issue Life Insurance - Guranteed Issue Life Insurance Policy, is essentially a whole life insurance product marketed towards senior citizens or those with medical problems.

A graded benefits clause is normally added to guaranteed issue life insurance policies to protect the insurance company from fraud.

Graded benefits states that if the policyholder dies within two or three years* of buying a guaranteed issue life insurance policy, a refund of the policy's premiums, plus interest, will be paid instead of paying out death benefits. This in effect prevents people on their deathbeds from signing up for a policy, just to gain some extra funds. A company may pay out full death benefits in the event of an accidental death.

Coverage continues as long as premiums are paid unless you cancel the policy. All policies accumulate cash value, and premiums remain the same.

Typical face values range from from $1,000 to $50,000 although policies can often be written outside of that range.

This type of insurance is designed to be conveniently purchased without the requirement of a medical exam or a medical questionnaire.

* Graded benefits may vary based on Insured age and Residence State.