Life can be unpredictable at times. Leaving your loved ones to grieve your loss without any financial support can be devastating. That’s why Northeast Financial Group, LLC works with Connecticut families in choosing life insurance policies that can help prevent situations of sudden financial hardships at a time of great personal loss.

Because there are many life insurance choices, picking the right life insurance policy can be a complicated task that requires thorough research. Northeast Financial Group, LLC will find the life insurance options that best fit your personal needs. To help you get a basic understanding of the different types of life insurance policies, Northeast Financial Group, LLC has provided simple definitions below:

Term Life Insurance
Term insurance is the most common form of life insurance. Term life insurance policies provide coverage only for a specified length of time. The term can be anywhere from 1 to 20 years, depending on the policy you select. Term life insurance is perhaps the simplest form of life insurance. It was developed to provide temporary life insurance protection on a limited budget.

Whole Life Insurance 
Whole life policies are designed to provide guaranteed cash value and competitive premiums. As an alternative to universal life, whole life insurance offers affordable premiums with the added benefit of guaranteed lifetime cash value.

Universal Insurance
Universal Insurance is a type of flexible permanent life insurance, offering the low-cost protection of term life insurance, as well as a savings element (like whole life insurance) to provide a cash value buildup. The death benefit, savings element and premiums can be reviewed and altered as a policyholder’s circumstances change.

Work with a Northeast Financial Group, LLC professional to perform a needs analysis to determine the appropriate coverage for you and your family.