02-04-2024, 02:34 PM
The most common types of life insurance are
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.
- Term Life Insurance, offering coverage for a specific period;
- Whole Life Insurance, providing lifelong coverage with a cash value component;
- Universal Life Insurance, offering flexibility in premium payments and death benefits;
- 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.