Whole Life Insurance is a permanent policy designed to cover end-of-life costs like funeral expenses, cremation, outstanding medical bills, and other small debts. Premiums are typically fixed and the coverage is guaranteed for life, provided premiums are paid. These policies often don't require a medical exam, making them easier to qualify for, especially for seniors. The death benefit provides your loved ones with a financial cushion, allowing them to focus on grieving rather than worrying about immediate expenses.

Term Insurance provides financial protection to beneficiaries for a specified period, or "term," in exchange for regular premium payments. If the insured person dies during the policy term, the beneficiaries receive a tax-free death benefit, which can be used to cover living expenses, debts like a mortgage, or funeral costs.

Universal Insurance is a type of permanent policy that offers both a death benefit and a cash value component with flexible premiums and adjustable coverage. It provides lifelong coverage and accumulates cash value that grows on a tax-deferred basis. Policyholders can adjust their premium payments and death benefit amounts within certain limits, and they can access the cash value while still living through loans or withdrawals