What Kind of Life Insurance Should I Buy?

Life insurance can be divided into two basic categories: Term Life insurance and Whole Life insurance. Each type offers advantages for individuals. It is important to understand the differences between the two types of life insurance when planning for your family's future.

Term Life Insurance provides coverage for a specific period of time or term. Policies may offer an initial term of 10 or 20 years. At the end of the initial term, the policy may be renewable for an additional number of years.

Whole Life Insurance provides coverage for the entire life of the insured. It also builds cash values that can be borrowed in the future. Cash values will grow to equal the amount of the death benefit at age 100.

Gerber Life's 10-Year Term Life policy offers:

A premium and death benefit that are guaranteed for the entire initial term.
A policy that is renewable at the end of the term.
An opportunity to convert to a whole life policy.
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Gerber Life's Guaranteed Whole Life policy offers:

Life insurance coverage for those 50 and over.
Premiums and death benefits that do not change after first two years.
Cash values that grow over time and can be borrowed.
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