Insurance Center

Which policy is the best? Everyone you talk to will tell you something else. The more knowledgeable they are, the more diverse the answer.

The best answer, of course, is always "the life insurance policy that is best suited to your personal needs and financial goals." We all have personal situations which involve our family status, income and assets, our ability to make more money and other aspects such as dependants, a mortgage, our life goals and our dreams. An ideal life insurance policy should be tailored to take everything into consideration.

There are three basic products in life insurance policies:
o Term,
o Whole life,
o Variable universal life.

Term life insurance works the way its name implies. You take out a life insurance policy that will last for a fixed period of time - the term. When this term is about to expire, the policy holder can renew the policy or take out a new one or, they just let the policy expire and forego their life insurance. If the policy holder does not die during the term of the policy, they forfeit the premiums they have paid when the policy expires. Basically, no more premiums, but no more insurance.