There are two primary forms of life insurance:
Term life insurance plans often last for 10, 20 or 30 years. You pay a premium for a period of time, and if you die during that time, the policy pays a cash benefit to your family (or anyone else you name as your beneficiary).
Whole-life insurance policies remain active indefinitely as long as you pay your premiums. Many policies offer cash accumulation and interest benefits. When you die, your beneficiaries will receive a set death benefit.
For more information about life insurance coverages, contact the Arbutina Insurance Group today.