A whole life insurance policy provides lifelong coverage, as long as premiums are paid. It includes a death benefit for beneficiaries and a cash value component that grows over time, which can be borrowed against or withdrawn.

Who it’s good for:

•  Individuals seeking lifelong coverage who want to ensure their beneficiaries are financially protected no matter when they pass away.

• People looking for a forced savings option, as the cash value can be an investment or financial resource in the future.

• Those who want predictable premiums, as whole life policies typically have fixed rates throughout the policy's life.

Whole life insurance is ideal for those wanting permanent coverage, with the added benefit of accumulating cash value over time. 

A term life insurance policy provides coverage for a specified period, typically ranging from 10 to 30 years. If the policyholder passes away during the term, their beneficiaries receive a death benefit. If the policyholder outlives the term, the coverage ends, and no payout is made.

Who it’s good for:

• Young families who need affordable coverage to protect against financial hardship if a breadwinner dies.

• People with temporary financial obligations (e.g., mortgage or college expenses) who want to ensure coverage while those needs exist.

• Budget-conscious individuals, as term life insurance tends to be more affordable than whole life insurance due to its limited duration and lack of a savings component.

Term life insurance is ideal for those who need substantial coverage at a lower premium, and who may not require lifelong protection. 

Final expense insurance is a type of life insurance designed to cover the costs of a person's funeral, burial, and other end-of-life expenses. It typically offers a smaller death benefit, ranging from $2,000 to $50,000, and is easier to qualify for, with minimal medical underwriting.

Who it’s good for:

• Seniors who want to ensure their family isn’t burdened with funeral expenses and other final costs.

• Those with limited financial resources, as final expense insurance is generally more affordable and doesn’t require extensive medical exams.

• Individuals looking for a simple, no-frills insurance policy, focused specifically on end-of-life expenses.

Final expense insurance is ideal for individuals seeking an affordable way to cover funeral and burial costs without burdening their loved ones financially.