Insurance | Term vs. Permanent Life Insurance
Finding the right life insurance for you can be complicated and confusing. Here are a few things to consider when determining if you need term or permanent insurance:
How do they compare?
| Features | Term Life | Permanent Life |
|---|---|---|
| Cost | Lower premium | Higher premium |
| Coverage | Limited time | Lifetime |
| Cash Value | None | Builds tax-deferred |
| Dividends | None | Paid in cash, applied to premium to buy additional coverage or accumulated with interest |
| Loans | None | Available on cash value for any purpose |
| Benefits | Death benefits | Death and living benefits |
For assistance in determining what type of insurance is right for you please call an Insurance Representative at 1-800-728-0292. Or visit any of our conveniently located branches throughout central and southeastern Connecticut.
The products of the Savings Bank Life Insurance Company are not bank deposits; may lose value; are not insured by the FDIC; are not insured by any Federal Government Agency; and are not obligations of, nor guaranteed by Liberty Bank.
