Term life insurance provides coverage for a set period, such as 10, 20, or 30 years. If you pass away during that time, the policy pays a lump sum to your chosen beneficiary. It’s the most affordable type of life insurance and is ideal for people who want temporary protection during key stages of life — like raising a family, paying off debt, or covering a mortgage.

Whole life insurance offers permanent coverage that lasts your entire lifetime, as long as premiums are paid. It also builds cash value over time, which you can borrow against if needed. This type of insurance is often used for long-term financial planning or leaving something behind for loved ones.

Universal life insurance is a type of permanent coverage that allows flexibility in how much you pay and how your policy grows. It includes a cash value component that can earn interest over time, and you can adjust your premiums or death benefit as your life and financial needs change.

Final expense insurance, also called burial insurance, is designed to cover funeral costs, medical bills, and other end-of-life expenses. It’s typically a smaller policy with affordable premiums and is easier to qualify for, even if you have health concerns. This coverage helps ensure your loved ones aren’t left with unexpected costs.