TERM LIFE
A term life insurance policy is the simplest, purest form of life insurance : You pay a premium for a period of time – typically between 10 and 30 years – and if you die during that time a death benefit is paid to your family (or anyone else you name as your beneficiary).
WHOLE LIFE
Whole life insurance policies provide permanent life insurance and typically offer fixed premiums, fixed death benefits and a cash value savings component.
Certain aspects of whole life insurance can make it an appealing choice.
Your premiums are fixed and will never go up, regardless of market conditions.
You may be able to withdraw funds or take out a loan.
Your death benefit is guaranteed as long as you make the required premium payments.
UNIVERSAL LIFE
Universal life insurance (UL) is one of the two main types of permanent life insurance (the other is whole life insurance). Like whole life, a universal policy can provide lifetime protection while building cash value with tax advantages. UL also gives you the flexibility to raise or lower premiums within certain limits, so it can cost less than whole life coverage. But it also offers fewer guarantees than whole life because if you make minimal premium payments for too long, it can impact cash value growth and the size of your death benefit.
DISABILITY
Disability insurance – also known as disability income insurance – can give you income to live on if you become temporarily or permanently disabled.
Please note:
The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.
Homeowners, renters, condo/co-op, landlord, and mobile home coverages are written through non-affiliated insurance companies and are secured through the WLS Insurance Agency, LLC. The information you provide will be shared with our business partners so that they can return a quote.