Life insurance policiesThere are many different types of life insurance policies on the market today….which one is the right one for you?

Whole life insurance premiums stay constant throughout the life of the policy. Sometimes policyholders have the dividends on the policy pay for the premium. Whole life insurance policies have a guaranteed death benefit. They also have a guaranteed cash value. This cash value can be turned to in times of emergencies. You can borrow against the cash value to pay for unexpected bills.

Universal life insurance policies offer flexible premium payments and flexible death benefit options. The cash value within this type of policy also grows tax deferred, taxed at withdrawal.

Variable life insurance policies are named variable because the cash value and the premium payments vary, depending upon the value of the investments they are in. The cash value fluctuates with the performance of the market.

Your personal financial needs play the role of which type of insurance policies you should invest in. Call your financial advisor to discuss in greater detail the different features and benefits of each.