Sponsored Links

Sunday, 10 October 2010

Types of Life Insurance

Life insurance is available in various shapes and sizes, but different types of life insurance policies generally fall into two categories: term insurance and permanent life insurance.

Types of Term Life Insurance Policies

Term life insurance is the cheapest type of life insurance available. It is designed to meet the needs of temporary insurance, providing protection for a specified period of time. For example, the term is 10 years, 20 or 30. This type of life insurance makes sense if you have financial needs, which decreases over time, as the portfolio of housing loan or education of the child.

Each year, the premium paid to cover the risk of death in that year. Term life insurance has no cash value. The only way to collect all must die before the term life insurance expires. If the death occurs, life insurance beneficiary generally collects the death benefit of life insurance, tax-free income.

Learn more about the different types of term life insurance.

Permanent Life Insurance

Permanent life insurance provides lifelong protection. This type of life insurance policy never ends as long as premiums are paid. In addition, permanent life insurance provides a savings element that accumulates cash value over a long period of time.

In addition to traditional term life insurance and permanent life insurance, there are many other types of life insurance available. Click on a type of life insurance below to learn more.

Child Life Insurance
Accidental Death Insurance
Disability Insurance
Final Expense Insurance
No Medical Exam Life Insurance
Long Term Care Insurance
Critical Illness Insurance
Life Insurance Riders

No form of life insurance is better than another, because the type of life insurance that fits your situation best depends on your personal and financial situation.

1 comment:

  1. very useful blog & thanks for following me
    (keep getting error message here, hope you get this post -- or you may get it repeated!)