In the event of your passing, life insurance provides money directly to your beneficiaries. They can use the money for whatever they want, such as:
- Make up for your lost income
- Fund your child's education
- Paying off household debt
- Paying for your funeral and other related expenses
Term Life Insurance for temporary simplified coverage and no cash value.
Whole Life Insurance for permanent coverage, with guaranteed premiums, death benefits and cash value growth.
Universal Life Insurance for permanent coverage, flexibility and less emphasis on cash value.
Return of Premium Life Insurance for term coverage, and if you don't use it you get your premiums back.
