Life insurance is a financial tool that provides financial protection to your loved ones in the event of your death. By paying regular premiums, you ensure that your beneficiaries receive a death benefit, which can cover living expenses, debts, mortgages, education costs, or estate planning needs. Beyond protection, life insurance can also serve as a vehicle for wealth accumulation, tax planning, and business succession.

Term Life Insurance

Overview

Coverage for a set period, such as 10, 20, or 30 years.

Advantages

Affordable premiums, straightforward protection, flexible term options.

Disadvantages

Coverage ends when the term expires; no cash value growth.

Whole Life Insurance

Overview

Permanent coverage with fixed premiums and a cash value component.

Advantages

Lifetime protection, guaranteed cash value accumulation, loan options.

Disadvantages

Higher premiums; slower cash value growth early on.

Universal Life Insurance

Overview

Permanent insurance with adjustable premiums and flexible death benefits.

Advantages

Payment flexibility, potential for cash value growth, adaptable to changing needs.

Disadvantages

More complex; fees and expenses can reduce growth.