Life Insurance Awareness Month
September 2025
.jpg?width=115&height=23&name=Group%20629%20(1).jpg "back home"){kind=small}
Types of Life Insurance
What is life insurance? Life insurance is financial protection for your loved ones in the event of your passing. It acts as a safety net, covering expenses like bills or funeral costs, so your family isn’t left with added stress. With life insurance, you can safeguard your family’s future.
Term Life Insurance
What is it?
A policy that covers you for a predetermined amount of time.
A policy that covers you for a predetermined amount of time.
Best for:
If you’re starting a family, buying a home, getting married, taking on new debt, or planning for the future. Term Life Insurance is a smart, affordable way to help secure your family’s future by providing coverage at a fixed rate for a set period.
If you’re starting a family, buying a home, getting married, taking on new debt, or planning for the future. Term Life Insurance is a smart, affordable way to help secure your family’s future by providing coverage at a fixed rate for a set period.
Age Limit:
Typically, from age 20 - 65, but check with insurers as it varies.
Typically, from age 20 - 65, but check with insurers as it varies.
Health Factors:
Your health impacts premiums. Generally, healthier individuals pay less.
Your health impacts premiums. Generally, healthier individuals pay less.
Lifestyle Considerations:
Smokers or those with risky hobbies might face higher premiums.
Smokers or those with risky hobbies might face higher premiums.
Customizable Options:
Term life allows you to add riders which offers extra coverage that supports your specific needs, lifestyle and budget.
Term life allows you to add riders which offers extra coverage that supports your specific needs, lifestyle and budget.
Death Benefits:
Typically given in a tax-free lump-sum payment.
Typically given in a tax-free lump-sum payment.
Coverage ends at the close of the selected term.
Whole Life Insurance
What is it?
A permanent policy that covers you for your entire life with an added benefit of building cash value over time.
A permanent policy that covers you for your entire life with an added benefit of building cash value over time.
Best for:
Those on a budget wanting to cover final expenses or leave a financial legacy. It builds cash value over time which can be borrowed against. Lower coverage amounts are best for those on a budget.
Those on a budget wanting to cover final expenses or leave a financial legacy. It builds cash value over time which can be borrowed against. Lower coverage amounts are best for those on a budget.
Level Premiums:
Won’t increase over time, so your payments stay the same permanently.
Won’t increase over time, so your payments stay the same permanently.
Age and Health Factors:
Usually more expensive than term insurance, but it’s a lifelong investment. Health matters but check with insurers as it may vary.
Usually more expensive than term insurance, but it’s a lifelong investment. Health matters but check with insurers as it may vary.
Lifestyle Considerations:
Like term insurance, your lifestyle affects premiums, but whole life insurance’s focus is long-term security.
Like term insurance, your lifestyle affects premiums, but whole life insurance’s focus is long-term security.
Customizable Options:
Whole life allows you to add riders which offer extra coverage that support your specific needs, lifestyle and budget.
Whole life allows you to add riders which offer extra coverage that support your specific needs, lifestyle and budget.
Death Benefits:
Typically given in a tax-free lump-sum payment.
Typically given in a tax-free lump-sum payment.
When does each make sense?
Term Life
It is ideal if you need coverage for a specific period or are looking for more affordable rates.
Whole Life
Works well if you want lifelong coverage and a cash value component. Often it is used for end-of-life expenses.
* Life insurance provided by: The Reliable Life Insurance Company, United Insurance Company of America, Union National Life Insurance Company, Mutual Savings Life Insurance Company. Home Office, St. Louis, Missouri. All insurance products are subject to state availability, issue limitations and contractual terms and conditions. Each company has sole financial responsibility for its own products. Please contact your agent or nearest district office for more information.