Protect your loved ones. Life insurance gives you the peace of mind that your family will be taken care of if something happens.

Life insurance policies are typically divided into two major types: term insurance and permanent insurance. From these two basic policies, the insurance industry has developed a number of products using the same essential principals.

Term Life Insurance

Term insurance is a policy which will pay a death benefit only if the insured dies during the term of the policy. No benefits are paid if the insured lives beyond the term of the policy and there is no investment or cash value feature inherent in this type of policy. For this reason, term insurance policies will carry the lowest premiums in the earlier years of the policy. However, as an individual gets older, term insurance gets more expensive.

Permanent Life Insurance

The alternative to term life is a permanent life insurance policy. A permanent life insurance policy, often referred to as whole life insurance, is intended to provide protection throughout the life of the insured. In an effort to keep the premiums level while the policy is in place, the cost of a whole life policy is somewhat more expensive than for a term policy in the earlier years because, as the insured gets older, their mortality rate increases.

If you need help determining which policy is right for you - fill out a free online quote today! Insurance Advisors, Inc., will assist you with any questions that you may have.