Daniel Chung of Mass Mutual was back with us for our June 1st broadcast with great information for our listeners on Life Insurance. Daniel explained the importance of everyone having a life insurance policy and that there are a multitude of different types of life insurance policies to choose from. This is why it’s important to sit down with a professional such as Daniel to discuss the type or policy and coverage that is the best fit for you and your loved ones.
The two main types of life insurance are term life and whole life. Term life insurance is basically a policy you rent for a period of time that will need to be renewed at the end of the term and will require a physical. Rates will then be determined by your current health condition and age. Term life insurance is often attractive because it’s cheaper than most other types. Whole life insurance in contrast locks in your rate for the policy at your current age.
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