Life Insurance

Life Insurance is a policy provide by an insurance company, according to which in exchange for your premium payments, the insurer is obliged to pay a certain sum (a lump sum or portions of smaller sums) to your beneficiary (persons you choose) in the event of your death. In the event of your passing, life insurance provides money directly to your beneficiaries.
Life Insurance can be categorized into two main classes: Temporary and Permanent or following subdivisions: Term, Universal, Whole Life, Variable, Variable Universal, and Endowment Policies.

Term Life Insurance: If you want life insurance for a limited time - long enough to meet your anticipated responsibilities to those who depend on you, but not longer -Term Life Insurance may be right for you. Term Life insurance that does not build up cash value and provides coverage for a specified period of time.

Permanent Life Insurance: Permanent Life Insurance that can last a lifetime and may build up a cash value that can be accessed during the insured's lifetime. Whole Life, Universal Life, Variable Universal Life and Survivorship Life are all examples of Permanent Life Insurance.