Life Insurance
Life insurance helps cover the end of life expenses. Sometimes Life Insurance is used as an investment vehicle.
There are 3 types of Life Insurance*:
- Term Life – This would be the best bang for your buck. Best way to describe Term Life is, you are renting life insurance for a certain amount of time. (Inheritance Focused)
- Whole Life – This Insurance will be a little more pricey and last your entire life – as long as you are paying your premium. There are several types of Whole life Policies – some are used as investments. (Inheritance focused)
- Final Expense – These policies are great for a smaller amount – $2000 to $75,000. Final Expense typically pays out faster and is focused on those final expense. (Cremation/Burial Focused)