Term Life

Term insurance is a life insurance product, which offers financial coverage to the policyholder for a specific time. In case of death of the insured individual during the policy term, the death benefit is paid by the company to the beneficiary.

Whole life

Whole life insurance is a type of permanent life insurance, which means the insured person is covered for the duration of their life if premiums are paid on time.  A key benefit of whole life is that it’s considered a permanent life insurance policy. It’s meant to provide you with a lifetime of coverage protection with premiums that won’t increase, won’t expire after a specific number of years, and can’t be canceled due to health or illness.

Fixed

Term life insurance is a defined policy that guarantees a benefit payout if the covered person dies during the policy term. Fixed life is another label for whole life, which combines life insurance and savings into one account.