Coverage At A Fixed Rate

Term life insurance provides coverage at a fixed rate for a limited period of time. The rate of payment is fixed throughout the term of the policy. Once the policy expires the insured must either forgo continued coverage or obtain further coverage with different payments and conditions.

With a term life insurance policy if the insured dies during the policy term their beneficiary will receive the death benefits. When assessing the most cost-effective forms of life insurance this type of life insurance policy is the most affordable compared to permanent life insurance.

In a whole life insurance policy, the premiums are fixed and guaranteed during the lifetime of the covered individual unless that person allows the policy to lapse. Whereas this type of life insurance is considered a form of risk protection and protects what is insured. For more information on term life insurance and the differences between Whole, Universal, and Key Person life insurance policies please call any of our two life insurance offices in Naples, or Ft. Myers.