There are two basic types of life insurance to plan for life’s needs and goals, term life and permanent life. An easy way to understand the difference is to look at the names themselves. Term is a time-based solution similar to “renting” – as it runs out on a given date. Permanent is a lifetime solution similar to “owning” – as it stays with you, grows in value and can used throughout your life.
If you are seeking protection for a specific period of time, or need to obtain a higher level of cost effective protection, term life insurance coverage is an affordable solution to meet your protection needs.
Whole life insurance products are designed to provide protection while building cash value. When permanent life insurance is the central part of a sound financial plan, it provides protection plus cash value that can help people do more throughout their lives.
At Bailey Insurance Group we are committed to helping families and businesses unlock the possibilities of life through life insurance and annuity solutions.
Penn Mutual has never failed to meet an obligation to a policyholder since 1847.