Whole life insurance is another type of coverage to consider. This type of policy covers you for your entire life rather than a specific term. A whole life policy will cost more on average and have higher premiums than term life policies, however, the investment potential and lifelong coverage are appealing to some insurance shoppers.
Then there's universal life coverage. You can add your preferred amount to the minimum price of the premium. The insurance company then invests the funds with returns that are put into the premiums, or left to accumulate. One subcategory of universal Whole life insurance is universal variable life which lets customers choose what they want to invest in rather than the insurance company choosing for them.
Variable life is another one of the main basic types of life insurance. With variable coverage, you have more investment opportunities, which includes stocks. This policy type is similar to universal coverage because the returns are either used towards premiums or allowed to accumulate in an account. Your beneficiary receives either the value of the policy, or the value of the policy, in addition to a portion of, or the full cash investment returns account. If you need help choosing between the policies available, speak with a trusted insurance agent or try doing additional research online.
Then there's universal life coverage. You can add your preferred amount to the minimum price of the premium. The insurance company then invests the funds with returns that are put into the premiums, or left to accumulate. One subcategory of universal Whole life insurance is universal variable life which lets customers choose what they want to invest in rather than the insurance company choosing for them.
Variable life is another one of the main basic types of life insurance. With variable coverage, you have more investment opportunities, which includes stocks. This policy type is similar to universal coverage because the returns are either used towards premiums or allowed to accumulate in an account. Your beneficiary receives either the value of the policy, or the value of the policy, in addition to a portion of, or the full cash investment returns account. If you need help choosing between the policies available, speak with a trusted insurance agent or try doing additional research online.