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AIBG Insurance

Licensed Insurance Specialist

About Us

Mr. Holt has over 30+years of business leadership
which includes the insurance industry.

Contact info

What Are THE DIFFERENT TYPES OF LIFE INSURANCE?

Term Life

Permanent Life

Living Benefits Rider

  • Term Life Insurance:Term life insurance lasts a certain number of years, then ends. You choose the term when you take out the policy. Common terms are 10, 20, or 30 years. The best term life insurance policies balance affordability with long-term financial strength.
  • Permanent Life Insurance: Permanent life insurance stays in force for the insured’s entire life unless the policyholder stops paying the premiums or surrenders the policy. It’s typically more expensive than term.
  • Whole Life: Insurance is a type of permanent life insurance that accumulates cash value. Cash value life insurance allows the policyholder to use the cash value for many purposes, such as a source of loans or cash or to pay policy premiums.
  • Universal Life:  A type of permanent life insurance with a cash value component that earns interest, universal life features flexible premiums. Unlike term and whole life, the premiums can be adjusted over time and can be designed with a level death benefit or an increasing death benefit.
  • Indexed Universal: This is a type of universal life insurance that lets the policyholder earn a fixed or equity-indexed rate of return on the cash value component.
  • Variable Universal: With variable universal life insurance, the policyholder is allowed to invest the policy’s cash value in an available separate account. It also has flexible premiums and can be designed with a level death benefit or an increasing death benefit.
  • Living Benefits Rider : Is a provision on your life insurance policy that allows you to borrow money from your death benefit if you get diagnosed with a terminal illness, such are heart attack, cancer, or stroke. This endorsement is also called an accelerated death benefit rider.