Term or permanent: which life cover is which
Life insurance is a vital safety net that helps protect your family’s financial well-being in the event of an unexpected death.
4 min read · Moreno Insurance Agency, San Antonio
What the benefit is for
It provides a death benefit that your loved ones can use to cover funeral costs and other final expenses, pay off debts including mortgages, car loans and credit card balances, replace lost income to help cover daily living expenses, fund college tuition for children or grandchildren, and ensure a spouse or partner can maintain their standard of living.
The four shapes
Term Insurance is the most affordable type of insurance when initially purchased and is designed to meet temporary needs. It provides protection for a specific period of time and generally pays a benefit only if you die during the term.
Final Expense is life insurance that pays off loans, credit card debt, estate costs and the funeral, ensuring that everything will be taken care of if you pass.
Universal Life was created to provide more flexibility than whole life insurance by allowing the policy owner to shift money between the insurance and savings components of the policy.
Whole Life is a life insurance contract with level premiums that has both an insurance and an investment component.
How much is the right question
Every person’s life and financial situation is different. Our team takes a personalized approach, sitting down with you to understand your goals and responsibilities.
Read the full coverage page, or start a quote and we will walk you through it on the phone.