Types of Life Insurances

Coverage for specific, limited amount of time. 

Typically no cash value but offers a lower premium.

Good for providing protection for  specific time of need such as a mortgage or a child's college expense.

Good start-up plan with limited budget but plan to convert eventually to a permanent plan.

Coverage until Age 100.

Guaranteed cash value that accumulates over the life of the policy.

Guaranteed years of payment.

Cash value can be accessed for any reason either by loan or cash surrender.

Good for providing protection for lifetime need such as estate creation, income protection, and estate tax planning.

Coverage years varies depending on the plan design.

Good platform for disciplined savings for long-term needs such as retirement fund planning and college planning (if child is still young).

Policy is linked to an investment fund that has a potential of growth, but also has a potential of loss.

Payment years are not guaranteed as investment fund may fluctuate depending on market conditions.

Good for building estate tax payments.

Risk profile assessment is highly required with a licensed financial advisor for choosing the fund suited for the client.