Three types of life insurance you might be interested in carrying

Understanding the different types of life insurance and how they work before you choose a policy is essential. At Access Insurance Services, we can help you find a life insurance policy in San Antonio, TX.

The following are three types of life insurance you might be interested in carrying. It would help if you understood the differences between these policy types before selecting a policy for your needs.  

Term life insurance

Term life insurance is a temporary form of life insurance. These policies are typically offered over fixed periods such as one, five, or 10-year terms. 

While a term life insurance policy won’t accumulate value over time, it will offer the advantage of inexpensive premiums. Term life insurance comes along with some of the least expensive monthly premiums out there. 

Whole life insurance

Unlike term life insurance, whole life insurance is a form of permanent life insurance. This life insurance accumulates cash value over time and offers lifelong coverage.

Universal life insurance

Universal life insurance is a type of permanent life insurance, just like whole life insurance. However, universal life insurance offers the benefits of adjustable premiums and death benefit amounts. There are three types of universal life insurance: indexed universal, guaranteed universal, and variable universal life insurance. 

Every consumer’s situation is different. When choosing a policy, you should consider factors such as how much of a death benefit you need, how long you need coverage, and how much you can afford on monthly premiums.

Get in touch with Access Insurance Services for quotes on life insurance policies and the information you need to make the right choice regarding insurance coverage. We’re here for consumers in San Antonio, TX who are on the market for life insurance.