Life insurance is important for everyone to have, yet many individuals are underinsured. Life insurance policies will cover the final costs of the policyholder and provide financial support for their family. There are two major types of life insurance policy:
- Term life insurance- Offers life insurance coverage for a set amount of time. Once the term ends, the policyholder will need to secure a new policy. This is the most straightforward and inexpensive life insurance option available.
- Whole life insurance- Offers life insurance coverage that does not expire. This option is more expensive and can be more complicated. Whole life insurance is usually recommended for individuals of high-net-worth.
At Pierce Insurance, our professional representatives can consult with you to discuss your insurance options.