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Home > Blog > Life Insurance two types
WEDNESDAY, JANUARY 26, 2022

Life Insurance two types

.a little boy that is standing in the grass

Life insurance policies can vary widely, but they generally fall under two categories:

Term insurance and Permanent Insurance


Term insurance is typically the most basic and affordable form of life insurance. It is designed to provide pure death benefit protection for a stated period of time, usually between one and thirty years. Term life insurance will only pay the death benefit if the insured passes away during the term period.

Whole Life and Universal Life Insurance provide permanent protection up to a certain age (usually 100). Both Whole Life and Universal can be used to build a cash value in the policy which often appeals to those that want protection and a form of investing and “ not putting all their eggs in one basket” as they say. These policies are generally more expensive than term life insurance.

So how much life insurance you need depends on your individual needs and your financial objectives. This question is best answered through an analysis of your family and financial situation, as well as your financial goals and objectives.

We at Torhorst Agency are here for all your insurance needs. We provide, Home, Auto, Life, Health, Disability, and various other insurances. 1-608-835-2828. “Ask for the guy in the back”!

Posted 5:05 PM

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