Life Insurance

Different types of life insurance are available. Term insurance covers a policyholder for a set time, typically between one and 20 years. Once coverage expires, the individual is no longer insured but can purchase a new policy. Term insurance is ideal for people looking for the short term, temporary coverage.

A permanent life insurance policy lasts as long as the insured individual pays the premiums. This coverage is more expensive than term life but still affordable. Universal insurance is a type of permanent insurance, but it has flexible premiums and coverage. On the other hand, whole life insurance is permanent insurance that usually has fixed premiums and coverage.

Insurance rates vary based on a number of things. Most importantly, a person’s age and health play a part in how much they pay. It’s generally a good idea to purchase coverage when you are in good health.