Types of Life Insurance

Choosing a life insurance policy can be overwhelming. The two main categories of life insurance are term and whole life. However, there are several subcategories, as well. At Client First Insurance Solutions in Americus, GA, we are committed to helping our customers choose the policy that is best for them. 

Term Life Insurance

Term life insurance is issued for a specific number of years or term. If you outlive the term, you don’t receive anything from the policy. You may have the option to renew the policy once the term is over. Term insurance premiums are generally lower than whole life. One reason for this is that the odds are that you will outlive your term policy, which means the policy has to pay out less often. 

Types of term life insurance include:

  • Standard term insurance
  • Simplified issue life insurance
  • Guaranteed issue life insurance

Whole Life Insurance

Whole life insurance stays with you until your death. Since the policy expects to pay out at some point, the premiums are often higher than those of term insurance. Some whole life policies also have an investment aspect. You may be able to access the money that you have paid into the policy. 

Types of whole life insurance include:

  • Standard whole life
  • Universal life insurance
  • Variable life insurance

Group Life Insurance

Group life insurance can be term or whole life insurance. Most people have access to group life insurance through their employer. Types of group of life insurance available are limited to those that the group or facilitator chooses to provide. 

Life Insurance at Client First Insurance Solutions

For more information about the different life insurance types in Americus, GA, contact us at Client First Insurance Solutions. We will discuss your needs and preferences and help you select the policy that best suits your needs.