Indexed Universal Life (IUL) insurance is a type of permanent life insurance that combines a death benefit with a cash value component. The cash value in an IUL policy can grow over time, based on the performance of a specific stock market index, such as the S&P 500. However, the policy does not directly invest in the stock market…

Whole life insurance is a type of permanent life insurance that provides lifelong coverage as long as premiums are paid. One of its primary features is a guaranteed death benefit, which ensures that a specific amount of money will be paid to the beneficiaries upon the policyholder's death…

Term life insurance is a type of life insurance policy that provides coverage for a specified period or "term," typically ranging from 10 to 30 years. Unlike permanent life insurance, term life insurance does not have a cash value component; it is purely designed to provide a death benefit to beneficiaries if the policyholder passes away during the coverage period…

Children’s whole life insurance is a type of permanent life insurance designed specifically for minors. This policy provides lifelong coverage as long as premiums are paid, ensuring a guaranteed death benefit for the insured child…