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Life Insurance Learning Center - Life Insurance Types

Term Life Insurance VS. Whole Life Insurance!

There are two basic types of life insurance: whole life insurance and term life insurance.

Term life insurance policies have a set duration that limit the coverage period. It is then up to the term life insurance policy owner to decide whether to renew the term life insurance policy, or to let the coverage terminate.

Yes, there are quite a few different types of life insurance policies out there. However, the two most basic and important that you really need to know about are the one-year renewable term and the straight life insurance. These two can satisfy the needs of most buyers.

The term life insurance policies that we will be discussing are:

1. One Year Renewable Term Life Insurance Policy
2. Universal Term Life Insurance
3. Adjustable Term Life Insurance
4. Level Term Life Insurance
5. Decreasing Term Life Insurance
6. Increasing Term Life Insurance
7. Front-End Loaded Term Life Insurance
8. Variable Life Insurance
9. Flexible Premium Variable Life Insurance
10. Industrial Life Insurance

Whole life insurance policies are different than term life insurance policies because the duration extends till the insured reaches 100 (hence, a whole life). There are many types of whole life insurance policies. We will discuss:

1. Straight Life Insurance
2. Limited-Payment Life Insurance
3. Modified Life Insurance

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