Start with the basics. A licensed insurance professional can explain the details and help you explore what fits your needs.
Protection for a set period.
Coverage for a chosen number of years. If you die while the policy is in force, it pays a death benefit to your beneficiaries.
You pay premiums to maintain coverage during the term. Term life generally does not build cash value.
Protection designed to last.
Permanent life insurance that can last your lifetime when required premiums are paid. It includes a death benefit and cash value.
Premiums are generally fixed, and cash value grows according to the policy. Final expense insurance is often a smaller whole life policy.
Permanent coverage with flexibility.
Life insurance with cash value that can earn interest linked to a market index. Your money is not directly invested in the index.
Premiums may be flexible within policy limits. Interest credits follow policy rules; charges and funding affect cash value and whether coverage stays in force. Growth is not guaranteed.
Answer a few questions to explore your options. Final eligibility, benefits and pricing depend on the insurer and policy.
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General information: NAIC life insurance guide and Indexed Universal Life (IUL) basics.