The Various Types of Life Insurance

Article by Vernon DeFlanders

When people feel that they need to leave tangible evidence of their life behind them generally you will find that people look at different life insurance policies. As these policies all have various differences it is best to know some facts about the types of life insurance that you can get. There are about 4 to 5 different major types of life insurance that most insurance companies can provide you details of.

Policies differ from whole life insurance policies in that they offer some flexibility to change the premium payments and death benefit amount. Even though premium payments are flexible, a minimum premium is required to keep the life insurance coverage in force. Policies are sold with various premium guarantees. The longer the guarantee, the higher the initial premium. Policies have cash value or a savings feature. Whole life, universal, and variable insurance are types of permanent life insurance.

Term insurance is the simplest form of life insurance. The insurance company would pay the assured amount only in case of death that occurs during the term of the policy. Term life insurance is so named because it offers a set coverage amount for a limited

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