Understanding Life Insurance

Final Expense Insurance

Final Expense Insurance is a type of whole life insurance designed to cover ​end-of-life costs, like funeral expenses and medical bills. It typically has ​lower coverage amounts and more affordable premiums, making it ideal for ​seniors or those looking for a policy specifically for these costs.

Whole Life Insurance

Whole Life Insurance provides lifelong coverage and has a savings ​component, allowing you to build cash value over time. Premiums remain ​fixed, and your beneficiaries receive a guaranteed payout upon your death. ​It’s perfect for those seeking permanent coverage and long-term financial ​security.

Term Life Insurance

Term Life Insurance offers coverage for a specific period, like 10, 20, or 30 ​years. It’s a cost-effective way to ensure financial protection during critical ​life stages, such as raising children or paying off a mortgage. If the term ​ends and you outlive the policy, coverage ends without a payout.

Graded Death Benefit Insurance

Graded Death Benefit policies are typically for those with serious health ​issues. If the policyholder dies within the first few years, the beneficiaries ​may receive only a portion of the death benefit or a refund of premiums ​paid. Full coverage is only provided after the graded period, making it an ​option for people who may not qualify for traditional life insurance.