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Home > Blog > Life Insurance: The Basics
THURSDAY, AUGUST 5, 2021

Life Insurance: The Basics

Permanent Life, Term Life, and other Types of Life Insurance

A variety of life insurance plans are available for you to choose from. Some of the most notable types and terms include:


  • Permanent Life: Remains effective until the policyholder dies, surrenders the policy, or stops making premium payments.

  • Term Life: Stays in force for a set amount of time, determined when a policyholder chooses their policy. Usually less expensive than permanent life insurance.

  • Universal Life: Permanent life insurance that has a cash value that can accumulate and earn interest, unlike term life policies.


Several other types of permanent, term, and universal life insurance are also available. It’s crucial to speak with an insurance expert when finding the right plan for you to explore all options. 

Things to Consider When Choosing a Plan

No two policyholders have the same needs, so it is crucial to take all factors of your life into account when choosing a plan. This includes, but is not limited to:


  • How much would you like to provide to your beneficiaries? Consider their financial needs and way of living. How old are they? What expenses will they need to cover? Etc.

  • What is your budget? How much are you able and willing to pay in premiums during the time of your insurance policy?

  • Are you looking for a plan that is in force for a set period of time (term life), your whole life (permanent life), or something else?

  • Are you interested in a policy with an investment component?


Navigating these questions and more does not have to be overwhelming. Connect with the experts at I & E Insurance Agency today so you can feel confident when choosing your life insurance policy.


Call us at (732) 295-5584 or get a free quote on our website. We look forward to meeting with you.


Posted 3:54 PM

Tags: life insurance, get a quote, how much is workers compensation, new jersey workers compensation, monmouth county workers compensation
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