These affordable life insurance policies offer coverage for a limited time frame; it could be 10, 20, or 30 years. They only offer a benefit if you die during the policy term and do not accrue cash value. The cost of your premium is affected by your age and health history.
If you only want limited coverage to pay for a funeral, burial, and legal expenses, you can choose a minimal final expense policy. These policies usually are below $50,000 in coverage and may not require a medical exam.
Ensure your family stays in the home you love even after your death. Mortgage protection insurance pays directly to your lender and does not require a medical exam. It can provide financial protection for your family if traditional life insurance is unavailable to you for any reason.
These insurance contracts provide a guaranteed source of income – for life! If you are retired and concerned about outliving your savings, an annuity can supplement your income. If you have maxed out your retirement contributions, they can act as an additional retirement savings vehicle.