What Kind of Life Insurance is Correct for Me?

There are two types of Life Insurance: Term Insurance and Cash Value Life Insurance.

Term Life Insurance began to gain favor in the 1980s when financial planners began promoting the concept that life insurance protection and investments should be separated. Since then millions of Americans have followed this strategy.

Why have millions of Americans preferred term life insurance?

• Term Life Insurance - is insurance that has lower premiums in the beginning years. One may select a 5, 10, 15, 20, & 25 or even a 30 year level premium. Term insurance coverage does not build up cash value, however with lower premiums one may have extra dollars to place into investments.
• The providing life insurance company guarantees that the insured will have a specific amount of coverage for a specific period of time at a predetermined price. The company can not reduce the amount, shorten the period of time or increase the premium. The only obligation of the insured is the payment of the premium when due.

A major advantage of term insurance is that it offers the opportunity to buy larger insurance protection for your premium dollar.

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