QUESTION:
What are the various options for life insurance?
ANSWER:
Life insurance options suit varied needs. Term life covers a set period, like 10 or 20 years, ideal for temporary needs like mortgages, with affordable premiums. Whole life offers lifelong coverage and a growing cash value, perfect for permanent protection and savings. Universal life provides flexible premiums and death benefits with cash value, great for long-term planning. Variable life allows investing in stocks or bonds, offering growth potential but higher risk.
Consult your advisor to choose the best option for your financial goals.