About Life Insurance

Life insurance comes in many types. The key to determining the right insurance for you and your family is to understand the differences in coverage and cost.

Few people who have shopped for or bought life insurance have escaped the debate over term versus permanent insurance.

The wrong type of insurance may do more harm to your financial well being than just about any other financial product available today. The first and probably most important decision you need to make when shopping for life insurance is: term, permanent or a combination.

Term life policies offer death benefits only, so if you die, you or your family wins. If you live longer than the length of the coverage, you or your family members get no money back.

Permanent life policies offer death benefits and a cash value so that if you live, you get back at least some of, and often much more than, the amount you spent on the coverage. You can get this money back by either cashing in the policy or by borrowing against it.

Read more about burial insurance.