Term Life

Term insurance, as the name implies, is coverage that is in place for a certain length of time, generally referred to as the "term period". Typically, you can purchase it in term periods of 10, 15, 20, 25, or 30 years. Should you pass away before the end of the term period, your family, or beneficiaries, will receive the death benefit.

Whole Life

Whole Life is the most basic type of permanent life insurance with specific death benefit and cash value, which are guaranteed for the life of the policy as long as the premiums are paid. Whole Life premiums are usually higher than term premiums, but are guaranteed not to increase. 

Index Universal Life

Universal Life Insurance is a flexible-premium, adjustable-benefit life insurance contract which accumulates cash value. Depending on certain factors, premium payments could be skipped in particular years at the policy owner's discretion. The adjustable benefit allows the policy owner to increase or decrease the stated death benefit, subject to certain guidlines.

Section 162 Executive Bonus

An executive bonus plan (Section 162) is a way for business owners or companies to use tax deductible company funds to selectively provide valued benefits to key people. The benefits usually include life insurance policy death benefits as well as cash value accumulations that can be used as a retirement income supplement.