Life Insurance

The Value of Life Insurance

Life insurance is about providing for the people you care about most. It pays them a sum of money you choose and may help protect them from the financial impact of your death.

These funds can help your loved ones pay monthly living expenses, stay in their home and pay off debts, including final expenses. It can also help send a child to college one day, continue a family business or leave a legacy for your favorite charity.

There are two kinds of Life Insurance:

Permanent Life Insurance

Provides protection that lasts a lifetime or for the life of the policy. It may build cashvalue that can be used even when you are living.

Typically, permanent insurance is used to cover long-term needs like:

  • Pay for final expenses
  • Provide an ongoing income for your family
  • Supplement retirement income
  • Fund an estate or business continuation plan


Term Life Insurance

Provides affordable coverage for a specific period of time. Payment amounts don't change for the guaranteed premium period.

Typically, proceeds from a term life insurance policy may be used to cover needs like:

  • Pay off the mortgage on your home
  • Provide an emergency fund
  • Help provide for a child's education fund
  • Pay off personal debts