Life Insurance--Don't Let it be Complicted

Congratulations on taking the first step in protecting your financial future with life insurance. Although choosing the right product can be confusing, there are two basic types of life insurance to invest in--Term Life Insurance and Permanent Life Insurance. See below to compare the two.

Term Life Insurance

Term Insurance pays a death benefit if you should die during the specified period of time , usually at cheaper premium costs

  • It's desgined for temporary circumstances

  • Policy periods are generally 10, 15, 20 and 30 years

  • Generally, tax-free death benefit for beneficiaries

  • Does not build Cash Value

Permanent Life Insurance

Permanent Life insurance offers life long protection instead for temporary amount of time like term insurance

  • The Cost is initially higher than Term Life, but becomes more cost effective as you age

  • It accumulates Cash Value on a tax-deferred basis

  • Cash Value can be accessed through loans and withdrawals


  • If you cancel your life policy, you get the accrued cash value (a surrender charge might be applicable)

 A Word About Final Expense Insurance

Every day, families are faced with the difficult task of saying goodbye to loved ones. No one knows when we or a loved one will die, but we can take steps to help ensure that funeral costs and other final expenses will be covered when the time comes.


Unfortunately, many people think that Social Security or Veteran benefits will cover their final expense needs, but $255 from your Social Security Lump-Sum Death Benefit  and/or a Veteran's Administration benefit of $700 is not going to pay for much. A typical funeral that includes a casket and embalming carries a median cost of $8,508 and that's not including other expenses such as flowers, transportation and obituary notices.

Ask yourself these questions: How will my bills and funeral costs be paid? Who will pay for any outstanding medical bills? Do I want to leave this financial burden to my family after I die?


  • Final Expense Insurance is a Permanent Life Insurance policy

  • Two types if Final Expense insurance: Guaranteed issue and Simplified issue

  • It never expires as long as premiums are paid

  • The insured designates a primary beneficiary

  • Medical exams are not required--just a few medical questions to answer

  • Coverage amounts range from $5,000 to $50,000

Looking for an affordable life insurance company in Orange County? Visit BJF Insurance

Services near you.

Quick Facts:


Insurance Services

Bradley J. Fiene


949-606-8726 fax

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