Coverage Alliance Insurance Services

Term life is the simplest type of life insurance plan. It is only good for a term or a period of time and therefore can be easily compared to renting or leasing. So while you pay your premiums to protect your beneficiaries for a term, usually 10, 15, 20 or 30 years, at the end of it if you are still alive, all the premiums you paid are gone. But term life insurance is the least expensive kind of life insurance coverage you can get to protect your loved one. It offers the most protection for the least premium.

Universal Life Insurance is a kind of permanent life insurance plan. It can be seen as a hybrid between term life insurance and whole life insurance. It usually costs more than a term but less than whole life insurance.

Whole Life Insurance is a permanent life insurance plan that almost always carries cash values with it and covers you for an entire lifetime. There are two main types of whole life plans: Participating Whole Life and Non-participating Whole Life.

Burial Life insurance, also known as Final Expense Insurance is a whole life insurance policy that usually is offered between the ages of 40 to 85. But there are a few carriers which do offer coverage from age 0 to 90. The policy can often range between $2,000 to $50,000 (age restrictions apply).

Disability through an injury or sickness not only severely affects a person’s quality of life but usually ends up causing significant loss of income. Disability insurance is a form of health insurance that provides income to cover living expenses during the duration of disability.

No medical exam life insurance is usually a term life plan. You can get up to $1,000,000 in life insurance without having to take a physical exam. For this to happen, you need to be in good health, which means that your risk category should range between Preferred Best and Standard according to an insurance company. Usually, you also should be a non-smoker.