If a client has limited financial resources but needs substantial protection, which insurance policy would best meet their needs?

Term life insurance is an optimal choice for clients with limited financial resources who require substantial protection. This type of insurance offers a high death benefit for a relatively low premium compared to whole life, universal life, or variable life policies. Since term life insurance provides coverage for a specified period—such as 10, 20, or 30 years—it can effectively meet the immediate insurance needs of individuals while remaining affordable on a tight budget.

Given that term life insurance primarily focuses on providing pure protection, it does not build cash value like whole and universal life policies do. For clients prioritizing substantial coverage without the ability to allocate funds towards high premiums or investment components, term life offers the most straightforward and economical solution.

While whole life, universal life, and variable life policies include elements of savings and investment, they also come with significantly higher premiums that may not be suitable for someone with limited financial means. Therefore, term life insurance stands out as the most practical and economical option for providing substantial protection in such scenarios.