What Are the Basic Types of Life Insurance?

At some point in our lives, we can expect to be approached by an insurance agent who will present us with a menu of insurance options. It could be overwhelming if you don’t know anything about any topics discussed.

So as a trusted insurance company in Montgomery, Alabama, let us enlighten you on the types of life insurance for you and your loved ones.

  • Term life insurance lasts for a specific period, such as ten or 20 years. It pays out only if you die during the policy term. If you live past your policy’s expiration date, your coverage ends.
  • Annual renewable term insurance can be renewed without proof of insurability, but the premium may increase.
  • Whole life insurance guarantees coverage throughout your lifetime at a fixed rate. Whole life policies typically have an investment component and a death benefit component – so they’re often referred to as “investment” or “cash value” policies rather than just pure life insurance policies.

Life insurance is a great way for you to provide financial security to protect your loved ones if something happens to you.

To learn more about the life insurance in Alabama that we offer, feel free to contact us at Jackson Insurance Company.

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