Every strong financial plan should include life insurance. Whether you need whole life or term insurance, we have affordable options to help your dependent stay financially secure when you're no longer with them.
Term insurance is typically designed to provide you with financial protection for a particular duration like 10 or 20 years. Term life insurance proceeds can help you boost your retirement savings and money lost during the working days. It also offers financial safety if you have dependents who may need money to pay a mortgage, college fees, and maintaining a business. Benefits in term life insurance are not paid in batches but in a lump sum upon a claim.
This insurance is designed to offer lifetime coverage. Due to its lengthy coverage period, permanent life insurance has higher premium payments than term. Depending on which permanent insurance you select, some may allow you to lower or raise your premium payments throughout your lifetime. Permanent life insurance policies are mainly bought by huge asset owners or individuals with many beneficiaries. The accumulated wealth can be shared among the beneficiaries upon the policy holder's death.