Life insurance generally falls into two categories: term insurance and permanent insurance. The best coverage for you depends on your unique circumstances and financial goals. Your Kahrl & Company Insurance representative can help you decide what’s best for you and your family.
Term insurance provides protection for a specific period of time (the “term”) and generally pays a benefit only if you pass away during the term.
Term insurance can be seen as “temporary” and is helpful when you have a need for coverage that will disappear at a specific point in time. For example, you may decide that you only need life insurance coverage until your children graduate from college or until your mortgage is paid off.
Permanent insurance provides lifelong protection. This type of insurance accumulates cash value and is priced for you to keep over a long period of time. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid.