TERM LIFE INSURANCE
Term provides life insurance protection for a specified period of time. Term can be a good place to start, if you do not currently have life insurance. It's generally less expensive than permanent life insurance, and is available in varying term periods with fixed premiums from a one- (annual renewable term) to 30-year period (level term). Often, term insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.

WHOLE LIFE INSURANCE
Whole life is a form of permanent life insurance that remains in force during the insured person's lifetime, provided premiums are paid as specified in the policy. Whole life insurance can build cash value.

UNIVERSAL LIFE INSURANCE
Universal life is a form of permanent life insurance characterized by its flexible premiums, flexible face amounts and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.