Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person, usually the policy holder.  The lump-sum benefit is paid when the policyholder either passes away or a specific amount of time has passed.

There are different kinds of life insurance policies, each meeting different needs.  Most clients are searching for either Term or Whole Life insurance.  The main difference between term and whole life insurance is that term life insurance provides coverage for a specific period of time, while whole life insurance provides coverage for the entire life of the policyholder. Term life insurance is typically less expensive than whole life insurance and is often used to provide coverage during a specific period of time, such as when children are young or when a mortgage is being paid off. Whole life insurance provides coverage for the entire life of the policyholder and can be used as an investment vehicle, as it earns interest and has cash value.  

Life insurance policies can help provide financial security by replacing lost income and covering expenses. The benefits of life insurance include:

• Providing financial security for your loved ones.
• Paying off debts and final expenses.
• Covering children’s education expenses.
• Providing a source of savings.
• Providing peace of mind.