Understanding The Different Types Of Life Insurance

| Total Words: 584

There are many companies providing life insurance services; you can get most of the information you need from insurance brokers, financial advisers who work for insurance companies, employees of insurance companies, and other sources. Much of the information you receive, however, will be in general terms or will focus more on sales talk aimed at getting you to purchase life insurance from the person you are talking to.

The truth is that there are many different types of life insurance available not just the cradle to grave coverage offered by insurance sales people. Here are three of them.

Level Term Life Insurance

This is a type of coverage with a specific face amount (the death benefit) over a set number of years with the premium generally kept constant throughout the policys term. The term of insurance is fixed; it can be 1, 5, 10, 15, 20, and even 30 years.

The typical aim of this kind of insurance is providing the family some financial protection in case of the insureds death within the term ensuring that there are enough monies to support the survivor and any dependent children. It may also be designed to cover payments for loans or...

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