Guaranteed issue life insurance is intended especially for persons aged who have difficulty getting insured. This type of insurance is also attractive because the premiums are fixed and there are no medical exams or health questions. Whereas, simplified issued insurance is a type of life insurance that requires only a short medical questionnaire—no medical exam—to qualify. Approval is based on your answers to health questions, not full underwriting.

Critical illness insurance pays an amount if the insured suffers from a critical illness (i.e. cancer,, stroke heart attack…) that satisfies the definition in the contract. You can buy critical illness insurance for you or a family member, including your spouse, a child or a grandchild, and you can use the benefit however you see fit. Critical illness payouts can be used for medical costs, travel, or any need.

Universal life insurance gives you lots of flexibility, particularly in determining the amounts and timing of your premium payments. Two types of universal life insurance are available: stepped premium universal life (premium increases with age) and level premium universal life (premium is fixed).You can also choose how the money in your accumulating fund is to be invested, although you will still need to comply with the obligations set out in the contract.

Life insurance that provides coverage for the entire lifetime of the insured (often to age 100) as long as premiums are paid. The premiums are usually level (do not increase) and can also include the option of accumulating a cash value.

Whole life insurance covers you until you die. The premiums are usually guaranteed and fixed (level). Whole life insurance usually provides a . cash surrender value. This insurance can be a participating (dividends paid) or non-participating policy.

Life insurance that provides coverage for a set period (e.g., 10, 15, 20, 25 or 30 years) and pays a lump sum death benefit if the insured dies during that term. Final expenses insurance is a small-value policy—often term or permanent—meant to cover funeral, burial, and related costs. This is ideal for those with debts (such as mortgage, credit cards, loans…) and young kids.

Disability insurance is designed specifically for workers. A disability insurance contract may allow you to receive benefits to replace a portion of your income in the event you become unable to work. It’s one of the most important types of insurance you can have.

This is an insurance used between business partners that sets out how an owner’s share will be bought out if they die, become disabled, or leave the business. In addition, you are able to get a life or disability insurance coverage on a key employee/owner to protect the company financially if the person dies or becomes disabled.

A financial strategy that uses a permanent life insurance policy with cash value as both as protection – to provide a tax-free death benefit to beneficiaries and as a tax-advantaged growth & income – to accumulate cash value inside the policy tax-deferred, then use that cash value as collateral for a bank or policy loan in retirement to create tax-efficient income.