A typical life insurance policy works like this: if you die, your life insurance policy will pay your beneficiaries. If you’re interested in a life insurance policy for yourself, you’ll have to decide in advance which type of life insurance policy is right for you. At Griffith Insurance LLP, servicing West Chester, PA, we help our customers find the right type of life insurance policy for their needs. 

Term Life Insurance

Term life insurance is a type of policy that is only active for a set length of time. Policies can last ten, twenty, or thirty years. Some policies have the option to be extended when the expiration date is approaching, while other policies do not. Younger people often choose term life insurance to help care for their young families in the event of their death. 

Permanent Life Insurance

Permanent life insurance is a type of life insurance policy that does not expire. As long as the premium continues to be paid, the permanent life insurance policy will pay your beneficiaries after your death.

Permanent life insurance comes in different types, including Whole and Universal life insurance. Whole life insurance is a straightforward policy that pays out a certain set amount when you die. Universal life insurance can have variable payouts and premiums.  

Which Type Is Best For You?

Are you interested in life insurance? Not sure which type of life insurance is right for you? The insurance professionals at Griffith Insurance LLP, servicing West Chester, PA, can help. We’ll be happy to answer your questions and help you make an informed decision about your life insurance policy.