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Life Insurance

At Peritia Advisors, our mission is to provide you with insurance that keeps you healthy and happy, no matter what your situation. Get in touch with us with any insurance questions you may have.

Life insurance is an important type of insurance that many people have. Life insurance is all about planning for different possibilities in the future, so it’s something that everyone should consider. Many people buy life insurance for a specific goal, such as to replace their income or cover funeral costs.

The Different Types of Life Insurance

Did you know that there are different types of life insurance policies? Understanding the different types is important when it comes to picking which one is right for you. Let’s go over the different types and provide some more information as to which one may make sense for your situation.


Whole life insurance is a permanent type of policy. When you enroll in a whole life insurance plan, you’ll have coverage for the entirety of your life. This means that your policy won’t expire and your beneficiary (the person who receives the death benefit) will receive money from your policy regardless of the age that you pass away at.


Term life insurance is another popular option. Individuals who enroll in term life insurance will need to select a certain amount of time that their policy will be valid for. Once this amount of time has passed, then the death benefit will not be given.


Universal life insurance is a permanent policy, so there isn’t a certain amount of time in which it will expire. So how is universal life insurance different from whole life insurance? With a universal policy, you’ll be able to withdraw from or borrow against the cash sum of your policy.

Final Expense

Final expense is another type of life insurance to consider. The final expense death benefit is smaller than the death benefit of the previously mentioned policy types. The goal of most final expense policies is to cover end-of-life costs.

Many beneficiaries use the final expense death benefit to cover funeral and burial costs, but there aren’t any restrictions as to how it must be used. This means that you can use the death benefit to cover medical expenses, credit card debt, and any other costs that the individual leaves behind.

Deciding Which Type is Right for You

Making sure that you’re enrolled in the right type of life insurance is important. If you want to increase the chances that your beneficiary will receive the death benefit, then you should consider a permanent policy like whole life insurance or universal life insurance. However, if you’re simply wanting to cover some end-of-life costs, then final expense might be the right choice for you.

Have Questions?

If you’re wanting to learn more about life insurance and get some guidance as to which policy type might be right for you, we’d love to help. You can book a time to speak with a member of our team by sending us a message through our website or giving us a call. We’ll connect you with an experienced member of our team who can provide you with some more information.