What are the most common types of life insurance

[Maria]

The most common types of life insurance are

1. Term Life Insurance, offering coverage for a specific period;
   
2. Whole Life Insurance, providing lifelong coverage with a cash value component; 
   
3. Universal Life Insurance, offering flexibility in premium payments and death benefits; 
   
4. Variable Life Insurance, allowing policyholders to invest the cash value in investment accounts. 
   

Term Life is straightforward and affordable, while permanent policies like Whole and Universal provide long-term coverage and potential cash accumulation. Variable Life involves investment risks. Choose based on your financial goals, budget, and risk tolerance.

[Jane]

The most common types of life insurance are term life and whole life insurance. Term life offers coverage for a specified period, providing a death benefit if the insured passes away during the term. Whole life provides coverage for the entire lifetime of the insured, with a cash value component that accumulates over time. Other variations include universal life and variable life insurance, offering flexibility in premiums and investment options.