Guide to Life Insurance

By Marc Firestone

“Life Insurance” is a term that many of us hear, but aren’t quite sure on. There are many types of life insurance, which begs the question: which one is right for me? In this presentation we will cover 4 major types of health insurance.

1. Whole Life

Whole Life Insurance

❖ Combination of life insurance and investment fund!

❖ Policy pays out fixed amount on event of your death!

❖ Portion of premium goes towards cash investments of the company

2. Universal Life

Universal Life Insurance

❖ Similar to whole life!

❖ Chance of a higher return!

❖ Policies usually do not guarantee specific rates

3. Variable Life

Variable Life Insurance

❖ 2 main subtypes: Variable life and variable universal life!

❖ Permanent Policy!

❖ The investment fund component is linked to a stock or bond-mutual investment

4.Term Life

Term Life Insurance

❖ No investment components!

❖ Coverage last for a fixed period of time!

❖ Option to renew each year

–Mark Firestone

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