TERM INSURANCE
Term life insurance provides financial protection for a specific period of time, such as 10, 20, or 30 years. It is designed to help protect your family and loved ones by providing a tax-free death benefit if the insured passes away during the term.
Term insurance is typically the most affordable type of life insurance and is ideal for covering temporary financial responsibilities such as:
-
Mortgage payments
-
Income replacement
-
Children’s education
-
Family living expenses
-
Business or debt protection
Many term policies also offer the option to renew or convert to permanent insurance in the future without a medical exam.
PERMANENT INSURANCE
Permanent Life Insurance
Permanent life insurance provides lifelong coverage and guarantees a tax-free death benefit for your beneficiaries, as long as the policy remains active. Unlike term insurance, permanent insurance can also build cash value over time, which may be accessed in the future depending on the policy type.
It is commonly used for:
-
Estate planning
-
Wealth transfer
-
Final expenses
-
Long-term family protection
-
Tax-efficient savings and investment strategies
The main types of permanent insurance include Whole Life Insurance, Universal Life Insurance, and Term 100 policies.