Which Type Of Life Insurance Is Best For You?

In regards to life insurance there are two basic types, one being term and the other permanent. But, which type of life insurance is best for you?Term insurance provides life insurance for the amount of time that the policy holder specifies. If the insured dies within the specified time, the face value of the policy will be given to the beneficiary. However, if he does not die within that time span and the policy is not renewed, then nothing will be paid out. Permanent life insurance on the other hand, provides insurance protection for the policy holder’s life span. In addition, there is a savings element. There are two common types of permanent insurance: whole life insurance and universal life insurance.

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