Life insurance is not the most traditional holiday gift, but the gift of knowing that if something were to happen to you, your family would be taken care of is priceless.

According to statistics from Life Happens and LIMRA, 70% of Americans consider life insurance a necessity, yet only 59% have a policy. That means a large pool of people are leaving room for uninsured risk.

First let’s dig into the two types of policy: term life insurance and whole life insurance (also referred to as permanent or universal life insurance).

The main difference is that term life insurance lasts for a pre-set period of time, whereas whole insurance lasts your lifetime. Beyond that there can be additional differences when you drill down into the terms of your policy. These may include the cost of the premium, the cash value of the policy, and death benefits.

We’re making it easy to start the conversation of life insurance with YUR agent with this nifty chart that can help you figure out what type of policy is right for you!

Term Life Insurance

• Breadwinner
• Stay-at-home parent
• Divorced parent
• Homeowner with a mortgage
• Someone with co-signed debt (such as student loans or credit cards)
• Business owner

Whole Life Insurance

• Parent of a special-needs child
• Individual with high net-worth
• Individual looking to provide an inheritance
• Business owner
• Investor who has maxed out other retirement plans
• People concerned about paying for their own funerals

YUR agents are always happy to walk you through exactly what coverage you need for your unique situation. Call us today at  610-770-6600 to give the gift of peace-of-mind this holiday season and beyond.