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There are two main types of life insurance: term and permanent. Term life insurance is typically more affordable than permanent life insurance because it is only active within a set period.
There are two main types of life insurance policies: Term and Permanent. Term Life Insurance Policies . Term life insurance provides temporary coverage for a specific period, usually ranging from ...
Term life insurance may be chosen in favor of permanent life insurance because term insurance is usually much less expensive [1] (depending on the length of the term), even if the applicant is higher risk, such as being an everyday smoker. For example, an individual might choose to obtain a policy whose term expires near his or her retirement ...
Within permanent insurance, the two primary types are whole life insurance and universal life insurance. Term life insurance is usually less expensive with fewer benefits, while permanent life ...
Term life insurance policies do not accumulate cash value, but are significantly less expensive than permanent life insurance policies with equivalent face amounts. Policyholders can save to provide for increased term premiums or decrease insurance needs (by paying off debts or saving to provide for survivor needs).
Whether you prefer term or whole life insurance will depend on many factors. Find out how these types of life insurance differ and what each option entails.
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