Life Insurance benefits
Universal Life
UL policies can be more affordable than whole life insurance. They can be a good option for people with fluctuating incomes because of the flexibility to adjust premium payments.
Whole Life
Whole life insurance is more expensive than term life insurance because the insurer is insuring the insured for their entire life. Can earn you dividends and builds cash value that's guaranteed to grow over time, even in down markets.
Term Life
A term life insurance policy is a type of life insurance that provides coverage for a set period of time, usually between 10 and 30 years. During this time, the policyholder pays a fixed premium, and if they die, the policy's death benefit is paid to their beneficiaries.