Life insurance is designed to provide your loved ones with financial security in the event of your death. Goals for life insurance coverage could include:

• Helping your spouse and children maintain their current standard of living
• Providing for a college education for children or grandchildren
• Covering the cost of estate taxes 

Life insurance policies are available many locations worldwide. There are two basic types of polices to choose from: Term Life and Regular Life (also known as Whole Life).

Term Life
Term Life, compared to regular life, requires lower payment upfront. In return for the premium the insured receives protection for a specific period of time. Policy terms can vary from ten (10), fifteen (15), twenty (20), or even fifty plus (50+) years.

Regular or Whole Life
Regular Life requires higher upfront cost than that of term life; however, unlike term life insurance, regular life begins to build a cash value. The cash value, a fund the insured may borrow from at extremely low interest rates, can be used to increase the overall policy benefit, or to reduce/eliminate annual premium payments. Over long periods of time, Regular Life can even be less expensive than term life insurance.

To determine whether term or regular life insurance is right for you, contact an Insurance Advisor for your complimentary consultation.