Secure Future Savings with Fundamental Life and Health

Types of Life Insurance

There are several types of life insurance policies, each catering to different needs and preferences:

• Term Life Insurance: This is the simplest and most affordable type of life insurance. It provides coverage for a specified term, such as 10, 20, or 30 years. If the policyholder passes away during this period, the beneficiaries receive the death benefit. Term life insurance is ideal for those seeking maximum coverage at a lower cost.
• Whole Life Insurance: Unlike term life, whole life insurance offers lifetime coverage. It also includes a savings component, known as cash value, which grows over time. This type of policy can be more expensive but offers the dual benefit of insurance and savings.
• Universal Life Insurance: This policy provides flexibility in premium payments and death benefits. It also accumulates cash value, which can be adjusted according to your financial situation.