Term life insurance pays out if the insured dies during the term of coverage, while permanent life insurance builds cash value over time that can be borrowed against. The document recommends informing yourself about different insurance companies, determining the best type of coverage for your needs, paying attention to illustrations, being aware of medical evaluations, and regularly reviewing your policy.

1. “NOT an option, A Necessity”

2. OVERVIEW

4. Types of life insurance
1.Term Life Insurance Policy
◦ Pays if ensured dies during the term
◦ You can review most terms insurance policies
for one or more terms
2. Permanent Life Insurance (cash value)
◦ Can build cash value over time
◦ Can borrow against the cash value

5. Types of Permanent Life
Insurance
1.Whole Life Insurance
◦ Guaranteed annual cash value growth
◦ Guaranteed death benefit
2. Universal Life Insurance
◦ Lets you determine amount & timing of
premium payments
3. Variable Life Insurance
◦ Allows allocation of investment

6. RECOMMENDATION
1. Inform yourself about different
insurance companies
2.Talk to agent and determine the type
of life insurance best for you
3. Pay attention to you life insurance
illustration
4. Be aware of medical evaluation and
how affects your premium
5. Review your policy constantly
throughout your life.

7. Rating title Insurance
companies

8. Remember…