Currently president of the Maurice Blond Agency, Inc., Laurel Blond has been selling health and life insurance at the agency, which was started by her father, for more than 25 years. Having recently qualified for joining the Guardians President’s Council, Laurel Blond is an expert in long-term care insurance and life insurance.

1. Comparing Different Types of
Life Insurance Policies
By Laurel Blond

2. Introduction
• Currently president of the Maurice Blond Agency, Inc.,
Laurel Blond has been selling health and life insurance
at the agency, which was started by her father, for more
than 25 years. Having recently qualified for joining the
Guardians President’s Council, Laurel Blond is an expert
in long-term care insurance and life insurance.
Whole-life policies are more traditional policies that
combine an investment fund and life coverage. These
policies maintain the same premiums throughout their
life, building up a cash reserve. They guarantee
insurance protection for the insured individual’s entire
life and provide a larger benefit than term policies.
However, they are more expensive.

3. Term Life Policies
• A term life policy protects beneficiaries from financial loss but
comes without an investment component. They last for a
specific amount of time, typically with 30 years being the
maximum.
A universal life policy is a permanent policy that offers
flexibility by featuring both whole and term life. The option of
varying the premium amount using part of the plan’s built-up
earnings makes this plan less expensive than whole life but
more expensive than term life. Variable life plans are the most
expense and they build up a cash reserve, which can be
invested in any of the insurance company’s options. The
reserve’s value depends on the success of the investments, so
the plan is risky due to its reliance on the stock market.