Types of Life Insurance

For everyone who has loved ones who depend on them, it’s important to have life insurance so that they are taken care of after you are gone. With life insurance, you can leave something behind so that those loved ones aren’t left struggling. There are two primary types of life insurance that you can choose from when picking your life insurance policy. To get started with life insurance, call us at Atlas Insurance Agency in Southeast Michigan.

Types of Life Insurance

Whole Life Insurance Policies

These policies are named for how long they last. With one of these policies, it will last for your whole life long no matter what age you reach. When you have a whole life policy, it is more expensive than the other primary type of life insurance, but it offers a lot of protection. It never expires as long s you keep paying your insurance premiums. This type of policy also builds up a value that you can eventually borrow against should you need to. This can offer you great peace of mind in case of an emergency. 

Term Life Insurance Policies

This type of policy is also named for how long it lasts. When you have a term life policy, it is in effect for a specific term. This may be 10 years, 20 years, etc. Once that term is over, the policy expires. Many people don’t like the idea of their policy expiring and having to apply for new insurance when that happens, but these policies tend to be low-cost. They are a more affordable choice, and many people find that this is the type that will fit within their budgets. 

Get Life Insurance 

It’s important to those around you that you stay covered with a life insurance policy. Call us at Atlas Insurance Agency in Southeast Michigan.