Here I am going to share some knowledge about types of life insurance. We should know that how many types of life insurance policies are there. Generally we found 2 types of life insurance policies individually: Term life insurance & Permanent life insurance Term Life: As its name implies, term life is covering specific time period, like term 10 is for 10 years & say Term 20 is for 20 years etc., until usually when they are 85 years of age. You may see the Term 100. It is actually a form of permanent life insurance that is covering 100 years. Maximum long-term insurance is convertible to permanent and guaranteed renewable policy during the period of coverage without medical evidence. Permanent Life Insurance: It’s also a types of life insurance that is provides protection permanently, that Includes Whole life insurance and universal life insurance. The premium is composed of the basic costs of finance and insurance, in both policies. In my next post I will discuss a...
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