Does Banner Life Insurance provide term or whole life policies?

Banner Life Insurance offers both term life and whole life policies to meet the varying needs of its customers. Term life insurance typically provides coverage for a specified period, such as ten, twenty, or thirty years. This type of policy is often more affordable and is designed to provide a death benefit to the beneficiaries if the insured passes away during the term. It is a great option for individuals seeking coverage for a specific duration, such as to protect a mortgage or support dependents until they are financially independent. On the other hand, whole life insurance provides coverage for the entire lifetime of the insured, as long as premiums are paid. This type of policy often comes with a cash value component that grows over time, offering policyholders the opportunity to borrow against it or cash it out if needed. However, whole life insurance typically has higher premium costs compared to term life insurance. Individuals interested in obtaining a policy from Banner Life Insurance should consider their financial goals, coverage needs, and budget. For specific details and options available, it is advisable to review the current information on their official website.