1839 life insurance
Because it's your life!
1839 life insurance
Because it's your life!
WHOLE LIFE INSURANCE
Whole life insurance is a type of permanent life insurance (up to age 102), which means the insured person is covered for the duration of their life as long as premiums are paid on time. In most cases the insured can borrow from their policy. In some cases the policy owner can even borrow against their policy. Quote
TERM LIFE
Term life insurance is a type of life insurance policy that has a specified end date, usually 10, 20, or 30 years from the start date. The death benefit will only be paid out if the insured dies during this time period. This is the amount of money that will be paid to the beneficiary when the insured passes away, and it can be issued in a variety of ways, such as a lump-sum payment or as annuities.
The most common type of term policy we offer is a level term policy, which means that the value of the death benefit stays the same for the entire time your policy is active.
Some term policies can also be converted to a permanent life insurance policy without a medical exam, like whole life once the term is up. However, those permanent life policies are more expensive.
Renewability is another potential feature of term coverage, which means that some insurance carriers may allow you to keep the policy in force past the initial time period you selected without undergoing additional underwriting or medical exam processes.
Some term policies can also come with a return of premium (ROP) feature. That means that if the death benefit isn’t paid out by the end of the term, you’ll get back all or part of the premiums you paid. However, this is a more expensive option.
The last feature available is the sale of the policy if you are 65 or older.
Term life policies can be bought either individually or through a group life insurance plan available through an employer, civic, or religious organization.