When a client does not know their life expectancy, which type of coverage will provide the most protection?

When considering what type of insurance coverage would provide the most protection for a client who is unsure of their life expectancy, whole of life insurance is the most appropriate choice. Whole of life insurance is designed to cover the insured for their entire lifetime, as long as premiums are paid. This offers the assurance that, regardless of when the insured passes away, the beneficiaries will receive a payout.

This is particularly significant for clients who do not know their life expectancy because it addresses the inherent uncertainty in their lifespan. Unlike term life insurance, which is limited to a specific period, or temporary term insurance, which provides coverage for a shorter duration, whole of life insurance ensures ongoing protection without the concern of outliving the policy. Universal life insurance offers flexibility in premium payments and potential investment components, but it typically has similar limitations regarding the guarantee of coverage for life compared to whole of life.

By opting for whole of life insurance, clients gain peace of mind, knowing that their loved ones are financially protected no matter when death occurs. This characteristic makes whole of life insurance the most comprehensive option available in this context of unseen life expectancy.