What is life insurance?
Life insurance provides a one-time, tax-free payment to your loved ones when you die, as long as you continue to pay your premiums while you are alive.
What kind of life insurance can I get?
There are two types of life insurance available for you: term life insurance and permanent life insurance.
Term Life Insurance:
- Provides temporary coverage
- Lower cost
- Fixed payments
Permanent Life Insurance:
- Provides lifetime coverage
- Higher cost
- Flexible payments