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Life and Health
Insurance Foundation for Education
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Protect what matters most
| TERM
LIFE |
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As the name implies,
Term Life insurance provides protection for a specific period of time
and generally pays a benefit only if you die during the “term.” Term periods
typically range from one year to 30 years, with 20 years being the most common
term.
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| WHOLE
LIFE |
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If you're the kind of person who likes predictability over time, Whole Life insurance
might be right for you. It provides you with the certainty of a guaranteed amount of
death benefit and a guaranteed rate of return on your cash values. And you'll have a
level premium that is guaranteed to never increase for life.
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| UNIVERSAL
LIFE |
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| Universal Life offers adjustable premiums that give you the option to make higher
premium payments when you have extra cash on hand or lower ones when money is
tight. Universal Life allows you, after your initial payment, to pay premiums at any
time, in virtually any amount, subject to certain minimums and maximums. You also
can reduce or increase the death benefit more easily than under a traditional Whole
Life policy. |
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