Compare the pros and cons of differing life insurance policies.

Life insurance is essential when it comes to keeping your family protected after you're gone. It helps to alleviate the financial burdens left to your loved ones. However, there isn't just one set policy for you to pick. There are plenty of life insurance policies to choose from which can make the process of purchasing life insurance more daunting than it needs to be. Check out the differences between term, whole, and universal policies so that you can make the right decision for your needs. Term Insurance Pros: Term life policies give you guaranteed coverage with affordable premiums. It takes away all the complexities of insurance and gives you the coverage you need. Cons: Term policies are only valid for a certain period of time. Once the term ends, then the policy is no longer valid, and you need to take out an additional policy. Additionally, there is no cash value when it comes to your policy. Whole Insurance Pros: Whole life insurance policies give you guaranteed coverage for lifelong protection. Additionally, there is an investment component when it comes to whole life insurance. This type of policy is relatively stable, yet it builds cash value for you. Cons: Generally, when it comes to whole insurance policies, or any other type of permanent life insurance policy, the rates are higher than what you would pay for a term policy.  Additionally, there's no flexibility with such a plan. Once you start with a whole life insurance plan, you're locked into the conditions of the contract. Universal Insurance Pros: A universal insurance policy gives the policy holder much more flexibility with their coverage. They're able to change their coverage as they see fit. Additionally, this type of policy is good for life, and it builds cash value. Cons: Your policy is held to certain conditions. In order to be guaranteed death benefits, you must meet certain conditions. Get the right type life insurance for your needs. East End Insurance Agency has you covered. Located in Southold, New York, contact us for all your personal and commercial insurance needs.