Life Insurance: 

Life insurance provides a lump-sum payment to designated beneficiaries after your death. Many employers offer basic group life insurance as part of their employee benefits package. Overall, there are three main types of life insurance: 

1. Term life insurance lasts a set number of years, typically 10, 20, 30, or to a specified age. Your beneficiary will receive a payment if you pass away during the covered term. However, the plan is no longer valid after the term expires. 

2. Permanent life insurance, also called a whole life policy, pays beneficiaries when you pass away at any age.

3. Final expense insurance is designed to cover a smaller, set amount of end-of-life expenses, such as funeral costs.

Types of Life Insurances:

  • Whole Life Insurance

  • Term Life Insurance

  • Universal Life Insurance

  • Mortgage Protection Insurance