There are two main types of life insurance, Term Life Insurance and Permanent Life Insurance.

Term life insurance provides death protection for a stated time period, or term. It was developed to provide temporary life insurance protection for a low price. It is useful for replacing the income of either spouse in the event of death and/or providing coverage to pay off a mortgage or other large debt. It is also useful in business insurance to provide key employee insurance or used for buy sell agreements.

Permanent Life Insurance covers the insured as long as they live and pays at the death of the insured. These policies usually build up a cash equity that can be borrowed or surrendered by the insured. Permanent Life Insurance is used to cover long term needs and for Estate Tax planning. There are several different product variations they can be used to meet individual client needs