There are many categories and variations of insurance plans. Your advisor’s role is to analyze your particular situation and help you choose the best combination of coverage and payment options. The various available options can be a bit perplexing but to simplify it – there are two main types of insurance: term and permanent. There are pros and cons to both but your advisor can help you make the right decision for your specific situation.
Watch this short video to learn the difference between Term and Permanent life insurance and more about other categories of insurance such as Living Benefits, Critical Illness, Long Term Disability, and Long Term Care.