What is a whole life insurance policy? It is permanent life insurance that has "term" coverage. For example, if you die in a particular term, such as your golden years, your beneficiaries will receive payments that are the difference between the amount you paid into the insurance and the amount you would have received during that time. Whole life insurance policies are most useful for retirement or planning since the payout is often large. For many people, it is the best choice for protecting their financial interests throughout their lives. One question that many people ask about whole life insurance ...

What Is Universal Life Insurance? Universal life insurance is a form of money-value life insurance, most commonly sold in the United States. Under the agreement, the insured's excess over the current value of coverage is credited to the insurance's cash value, which accrues to a growing amount on a tax-deferred basis. In many ways, this type of life assurance resembles stocks, with premiums varying according to market trends and perceived risk. The insured pays a fixed amount every month, with that amount growing as time goes by until the death benefit is reached. Many people choose universal life insurance policies ...

Term life insurance is an insurance product that offers coverage on a specified term, usually for a limited period, the specified term. The coverage typically extends for an agreed period of years, as well as the lifetime of the account holder. The insured pays a premium to the insurance company at the beginning of the coverage and is then paid a monthly premium to maintain the policy. During the specified term, the premium amount is adjusted for inflationary factors and life changes. If a policyholder should die before the end of the coverage, at no cost to the policyholder, then ...