South Florida Term Life Insurance Protection
Life, Health and Variable Annuities Insurance Lines
Life Insurance comes in three basic types: Term insurance offers plain-vanilla protection at a low cost. Then there’s whole life, which has a savings component. A third type, the return of premium, is essentially a hybrid of the first two. Each of these has pros and cons, and AIB will consult with you and educate you as to the insurance coverage that makes the most sense at every stage of your life.
Term life insurance is life insurance which provides coverage for a limited period of time. After that period, the insured can either drop the policy or pay annually increasing premiums to continue the coverage. If the insured dies during the term, the death benefit will be paid to your beneficiary. Term insurance is often the most inexpensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis.
Term life insurance is the original form of life insurance and is considered to be pure insurance protection because it builds no cash value. This is in contrast to whole or universal life.