Brazis & Associates

There are several types of life insurance; term, universal, whole life and mortgage insurance. These programs are designed to fill specific needs—generally ten to twenty years. No cash values develop and the premiums go up drastically after the guaranteed period is over. Examples would be mortgage coverage, business loans, car loans, etc. Whole life insurance is permanent coverage as it is designed to last the rest of one's life, no matter how long one lives. This coverage is used for estate planning, wealth accumulation, passing inheritance to children and more. Significant cash values develop and premiums never go up. Universal life is also a permanent product that can last for a very long time. This product is also flexible and one can control the duration of coverage by selecting one's financial commitment. Cash values develop at a lower rate than whole life.