Choosing the right life insurance can feel overwhelming, especially with so many options available. Let’s break down the three most common types of life insurance so you can make an informed decision:
- Term Life Insurance: This policy provides coverage for a specific period, usually 10, 20, or 30 years. It’s ideal for those looking for affordable, temporary coverage. If the policyholder passes away during the term, their beneficiaries receive the payout.
- Whole Life Insurance: Unlike term life, whole life insurance provides lifetime coverage. It also builds cash value over time, which can be borrowed against or used for other financial needs. Whole life insurance comes with higher premiums but offers long-term security.
- Universal Life Insurance: This is a flexible policy that combines the benefits of both term and whole life insurance. It allows policyholders to adjust their premiums and coverage amounts over time, providing more control over the policy’s cost and benefits.
At High Stairway Solutions, we’re here to help you navigate these options and find the best life insurance plan for your needs. Reach out to us for personalized advice and secure your future with confidence.
