--- title: Life Insurance description: Discover life insurance solutions tailored to protect your loved ones' financial future. We offer life insurance products to give you peace of mind image: https://insurance.concklin.com/hubfs/smiling-european-little-girl-and-elderly-woman-in-2022-10-17-20-37-13-utc-1.jpeg --- [Skip to content](https://insurance.concklin.com/life-insurance#main-content) [facebook-f icon](https://www.facebook.com/ConcklinInsurance) [linkedin-in icon](https://www.linkedin.com/company/concklin-insurance-agency) [Twitter icon](https://twitter.com/ConcklinA) [youtube icon](https://www.youtube.com/channel/UC_HnJQ4S_USSxBJkauXwu6A) [**Contact Our Team**](https://insurance.concklin.com/compare-quotes#CLQuoteRequest) **[630-268-1600](tel:+16302681600)** **[Contact Our Team](https://insurance.concklin.com/compare-quotes#CLQuoteRequest)** **[630-268-1600](tel:+16302681600)** [![Concklin Logo-1](https://insurance.concklin.com/hs-fs/hubfs/Concklin%20Logo-1.png?width=314&height=100&name=Concklin%20Logo-1.png)](https://insurance.concklin.com/) - About Us Show submenu for About Us - [Our Story](https://insurance.concklin.com/about-us-who-we-are) - [Our Team](https://insurance.concklin.com/meet-our-team) - [Contact Us](https://insurance.concklin.com/contact-us) - [Markets & Industries](https://insurance.concklin.com/industry-specific-insurance-programs) - [Business Insurance](https://insurance.concklin.com/business-insurance-coverage) - [Personal Insurance](https://insurance.concklin.com/personal-lines-insurance-coverage) - Life & Health Insurance Show submenu for Life & Health Insurance - [Life Insurance](https://insurance.concklin.com/life-insurance) - [Health Insurance](https://insurance.concklin.com/health-insurance) - Resources Show submenu for Resources - [Claims Resources](https://insurance.concklin.com/claims-resources) - [Cyber Resources](https://insurance.concklin.com/cyber-insurance-resources) - [Blog](https://blog.concklin.com/) - [Video Library](https://blog.concklin.com/video-library) - [Client Portal](https://insurance.concklin.com/client-portal) - [Make A Payment](https://concklin.appliedpay.com/) Open main navigation Close main navigation - About Us Show submenu for About Us - [Our Story](https://insurance.concklin.com/about-us-who-we-are) - [Our Team](https://insurance.concklin.com/meet-our-team) - [Contact Us](https://insurance.concklin.com/contact-us) - [Markets & Industries](https://insurance.concklin.com/industry-specific-insurance-programs) - [Business Insurance](https://insurance.concklin.com/business-insurance-coverage) - [Personal Insurance](https://insurance.concklin.com/personal-lines-insurance-coverage) - Life & Health Insurance Show submenu for Life & Health Insurance - [Life Insurance](https://insurance.concklin.com/life-insurance) - [Health Insurance](https://insurance.concklin.com/health-insurance) - Resources Show submenu for Resources - [Claims Resources](https://insurance.concklin.com/claims-resources) - [Cyber Resources](https://insurance.concklin.com/cyber-insurance-resources) - [Blog](https://blog.concklin.com/) - [Video Library](https://blog.concklin.com/video-library) - [Client Portal](https://insurance.concklin.com/client-portal) - [Make A Payment](https://concklin.appliedpay.com/) --- # Life Insurance - [![management-career-achievement-opportunity-concept-2022-12-16-01-21-28-utc-1](https://insurance.concklin.com/hs-fs/hubfs/management-career-achievement-opportunity-concept-2022-12-16-01-21-28-utc-1.jpeg?width=1080&height=630&name=management-career-achievement-opportunity-concept-2022-12-16-01-21-28-utc-1.jpeg) **Key person life insurance is a type of life insurance policy that is taken out by a company on the life of an individual who is a key employee or a key contributor to the company's success. The purpose of key person life insurance is to provide financial protection to the company in the event of the unexpected death of the key employee.**](https://insurance.concklin.com/key-person-life-insurance) ### [Key Person Life Insurance](https://insurance.concklin.com/key-person-life-insurance) - [![elderly-man-kissing-wife-2021-08-26-15-45-23-utc-1](https://insurance.concklin.com/hs-fs/hubfs/elderly-man-kissing-wife-2021-08-26-15-45-23-utc-1.jpeg?width=1080&height=630&name=elderly-man-kissing-wife-2021-08-26-15-45-23-utc-1.jpeg) **Universal life insurance is a type of permanent life insurance that provides coverage for the entirety of the policyholder's life. It is called "universal" because it offers flexibility in terms of the premium payments and the death benefit, as well as the ability to accumulate cash value.**](https://insurance.concklin.com/universal-life-insurance) ### [Universal Life Insurance](https://insurance.concklin.com/universal-life-insurance) - [![smiling-european-little-girl-and-elderly-woman-in-2022-10-17-20-37-13-utc-1](https://insurance.concklin.com/hs-fs/hubfs/smiling-european-little-girl-and-elderly-woman-in-2022-10-17-20-37-13-utc-1.jpeg?width=1080&height=630&name=smiling-european-little-girl-and-elderly-woman-in-2022-10-17-20-37-13-utc-1.jpeg) **Whole life insurance is a type of permanent life insurance that provides coverage for the entirety of the policyholder's life. It is called "whole" life insurance because it covers the policyholder for their entire life, as opposed to term life insurance, which provides coverage for a specific period.**](https://insurance.concklin.com/whole-life-insurance) ### [Whole Life Insurance](https://insurance.concklin.com/whole-life-insurance) - [![elderly-couple-walking-on-the-path-2022-12-16-11-03-06-utc-1](https://insurance.concklin.com/hs-fs/hubfs/elderly-couple-walking-on-the-path-2022-12-16-11-03-06-utc-1.jpeg?width=1080&height=630&name=elderly-couple-walking-on-the-path-2022-12-16-11-03-06-utc-1.jpeg) **Term life insurance is a type of life insurance policy that provides coverage for a specific period, or "term." The policy pays a benefit to the designated beneficiary in the event of the policyholder's death during the term. If the policyholder does not die during the term, the policy will expire without any value.**](https://insurance.concklin.com/term-life-insurance) ### [Term Life Insurance](https://insurance.concklin.com/term-life-insurance) - [![portrait-of-multigeneration-family-outdoors-on-gar-2021-08-27-16-20-05-utc-1](https://insurance.concklin.com/hs-fs/hubfs/portrait-of-multigeneration-family-outdoors-on-gar-2021-08-27-16-20-05-utc-1.jpeg?width=1080&height=630&name=portrait-of-multigeneration-family-outdoors-on-gar-2021-08-27-16-20-05-utc-1.jpeg) **Life insurance is a financial product that provides financial protection to the policyholder's loved ones in the event of the policyholder's death. There are several situations in which a person may want to consider purchasing life insurance:**](https://insurance.concklin.com/why-get-life-insurance) ### [Why Get Life Insurance](https://insurance.concklin.com/why-get-life-insurance) - [![agent-with-contract-of-life-insurance-policy-2021-08-27-09-43-28-utc-1](https://insurance.concklin.com/hs-fs/hubfs/agent-with-contract-of-life-insurance-policy-2021-08-27-09-43-28-utc-1.jpeg?width=1080&height=630&name=agent-with-contract-of-life-insurance-policy-2021-08-27-09-43-28-utc-1.jpeg) **Life insurance is a financial product that provides financial protection to the policyholder's loved ones in the event of the policyholder's death. The policy pays a benefit, called a death benefit, to the designated beneficiary in the event of the policyholder's death.**](https://insurance.concklin.com/life-insurance-basics) ### [Life Insurance Basics](https://insurance.concklin.com/life-insurance-basics) ## What is Life Insurance? Life insurance is a type of insurance that pays out a sum of money to a designated beneficiary upon the death of the insured person. It is designed to provide financial protection for the policyholder's loved ones in the event of their death. ### There are two main types of life insurance: term life insurance and permanent life insurance. Term life insurance provides coverage for a specific period of time, typically 10, 20, or 30 years. If the policyholder dies within this time frame, the beneficiary will receive the payout. If the policyholder does not die within the term, the policy will expire and the beneficiary will not receive a payout. Permanent life insurance, also known as whole life insurance, provides coverage for the entire lifespan of the policyholder. In addition to providing a death benefit, permanent life insurance also has a savings component that allows the policyholder to build cash value over time. Some types of permanent life insurance include universal life insurance, variable life insurance, and variable universal life insurance. Life insurance can be an important part of a financial plan, as it can provide financial security and peace of mind for the policyholder and their loved ones. It is important to carefully consider your needs and the options available when choosing a life insurance policy. 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