Coverage Guide
Which type of insurance is right for you?
Not all life insurance is the same. Here's a plain-English breakdown of the three main types — and who each one is best for.
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Simple & Affordable
Term Life
Coverage for a specific period — usually 10, 20, or 30 years. If you pass away during the term, your family gets the payout. If the term ends and you're still alive, the policy expires.
- Lowest monthly cost
- Easy to understand
- Great for young families
- High coverage amounts available
Best for: Young parents, people with a mortgage, anyone who wants maximum coverage at minimum cost
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Lifelong + Cash Value
Whole Life
Permanent coverage that never expires as long as you pay premiums. Builds cash value over time that you can borrow against. Premiums never go up.
- Coverage for life — no expiration
- Builds cash value you can access
- Premiums stay the same forever
- Can be used as an asset
Best for: People who want permanent protection, estate planning, or a policy that doubles as a financial asset
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Flexible + Growth Potential
IUL
Indexed Universal Life combines permanent life insurance with a cash value component that grows based on a stock market index — without the direct risk of market losses.
- Cash value tied to market index
- Protected from market downturns
- Flexible premium payments
- Tax-advantaged growth
Best for: Higher earners, people who've maxed out their 401k, those who want life insurance + retirement savings in one