Term to 100
Even though the word “Term” appears in this product, don’t let it fool you, as it’s actually apart of the permanent life insurance family. However, it is a stripped down version of permanent life insurance. Unlike universal life insurance, in which there is an investment aspect within the policy, or whole life insurance where there is a cash value within the policy, term to 100 is basic. The premiums remain level throughout, and the death benefit remains level as well. This is the cheapest form of permanent insurance as it is basic without any of the bells and whistles. This means if ever you decide to cancel the policy, you lose all premiums invested. This product is ideal for someone looking to get permanent insurance, and may have a smaller budget, and therefore willing to sacrifice some of the extra goodies of the more extravagant permanent life insurance policies.