John C. Greene Insurance

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The Smart Option for All of Your Life Insurance Needs

As an independent insurance agency, John C. Greene Insurance provides life insurance quotes from multiple, highly rated and price-competitive companies. A life insurance policy provides a cash payment to an individual, family, or business in cases when the death of a key person would result in financial hardship. If you're in need of such a policy, give our Deep River, Connecticut-based agency a call today.

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The Principal Type of Life Insurance

There are 2 major types of life insurance-term and whole life. Whole life is sometimes called permanent life insurance, and it encompasses several subcategories, including traditional whole life and universal life. In 2003, people bought about 6.4 million individual life insurance term policies, while about 7.1 million bought whole life policies. Life insurance products for groups are different from life insurance sold to individuals. The information below focuses on life insurance sold to individuals.

Term Insurance

Term Insurance is the simplest form of life insurance. It pays only if death occurs during the term of the policy, which is usually from one to 30 years. Most term policies have no other benefit provisions.

  • Renewable Term Insurance
  • Convertible Term Insurance
  • Level Term Insurance
  • Decreasing Term Insurance
  • Increasing Term Insurance

The most basic types of term life insurance policies are level term and decreasing term. Level term means that the death benefit stays the same throughout the duration of the policy. Decreasing term means that the death benefit drops, usually in 1-year increments, over the course of the policy's term . In 2003, virtually all (97%) of the term life insurance bought was level term.

Whole Life/Permanent Insurance

There are 4 basic types of permanent insurance:

  • Whole Life
  • Joint Whole Life
  • Survivorship Life
  • Universal Life

To learn more about whole life/permanent insurance, reach out to us today.