What Type Of Policy Is Right For Me?

Term insurance is best suited to solve a temporary need. For example, you can use the death benefits to provide enough funds for a college education or to pay off the mortgage on your house. Because it is death-only protection, it is less expensive and therefore, more attractive if you are relatively young.

Whole life insurance is best suited for older individuals with a permanent need. For example, whole life can be used to provide funds for paying estate taxes or buying a partner’s business interest if your partner dies before you.

Universal life is for those who want to maintain flexibility with regard to both premiums and death benefits. It is also well-suited for those who want to build up cash values conservatively.

Variable life is used by those who want to maximize their ability to use insurance as a tax-deferred investment vehicle.

Policy Types Available Policy Characteristics Which Is Right For Me? Irrevocable Life Insurance Trust

Combining Policies How Much Do I Need? Second-To-Die Life Insurance Life Insurance and Estate Plan

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