A life insurance policy allows you to set aside money now to provide a measure of financial security for your family upon your death. It can help your family meet the financial needs previously covered by your income.
You should decide how much protection you need and can afford, and what kind of insurance policy to buy. The main purpose of a life insurance policy is to provide survivor benefits for beneficiaries.
There are several different types of life insurance policies, and each type of Life insurance may have many different variations. That is why it is important to have an agent that is knowledgeable and experienced, so that they can educate and enable you to make the best buying decision. Examples of the different kinds of Life Insurance are:
– Term Life
– Whole Life (Several Variations)
– Universal Life
– Variable Life