Life insurance is money for your family to use to pay your bills and death expenses when you die. A person must be healthy to purchase a life insurance policy. The amount of life insurance needed depends on the person’s family’s needs when they die. Some things to consider when purchasing a life insurance policy are, marital status, the number of dependents, (wife, kids, etc.) family size, income, and wealth. Life insurance has different types of policies.
Types of life insurance[change | change source]
- Term life insurance
- Whole life insurance
- Universal life insurance
- Indexed universal life insurance
- Variable life insurance
- Variable universal life insurance
- Final expense insurance
- Group life insurance
References[change | change source]
- "Whole Life Insurance - How Does It Work?". www.insuranks.com. Retrieved 2021-01-09.