LIFE INSURANCE

A policy that provides a death benefit upon someone’s death. The coverage is used to coverage mortgage expenses for a living spouse, debt protection, final expense coverage (funeral costs) and can be used for estate planning purposes. Coverage is offered at a monthly rate and can be tailored to specific needs on a situational basis.

Types of coverage

Term Life – Life insurance that provides fixed amount of coverage for a fixed amount of payments for a defintite period of time. Once that time expires there is no more coverage. For the insured to continue coverage, they have to purchase an additional term.

Permanent Coverage – Life insurance that, in addition to providing a death benefit, earns a cash value athat can be accessed in a time of need