The Freedom Life Insurance Company Offers Consumer Friendly Life Policies

Life insurance is a product that most people should have, but it is also a concept that many do not fully understand. It is really a miracle product because it enables the creation of an instant estate for just pennies on the dollar.

According to Crunchbase, Freedom Life Insurance is one of the most competitive and customer oriented companies that makes a great effort to explain its policies and products to the public.

Life insurance policies are available in two distinct formats, that of term life insurance and permanent life insurance. Term coverage is most often sold in a format of years of coverage.

For example it is available in 10, 15, 20, and 30-year coverage formats and then when the term of years is up, the policy expires and the coverage ceases to exist. Term life insurance is the least expensive from a cash flow basis because of its temporary nature. Learn more about Freedom Life Insurance:

Permanent life insurance covers an insured individual as long as he or she is alive. If a person dies at any time during their lifetime, a named beneficiary will receive the death benefit of the policy. Permanent life insurance has a growing cash value internally in the policy.

This has the purpose acting as a reserve against the increasing mortality risk each year the policy is in force. A loan can be taken by the policy owner against the cash value, which then reduces the death benefit by the amount of the loan.

Freedom Life Insurance offers both types of life insurance coverage and can even combine the two types together in order to devise a coverage plan that will fit the needs of the insured and his or her family as well as their budget.

A well-trained Freedom Life Insurance agent will be able to assist in the design and implementation of such a plan for clients.