Types Of Life Insurance

Types Of Life Insurance

Thanks for visiting my website, which has been designed to provide you with short, clear and objective information on the various types of life insurance policies available. To be clear, this site is not about selling a life insurance policy to anyone. Rather the intent is to provide useful information that can be used to understand life insurance policies in general.
There are basically two general types of life insurance from which you can choose...term life...or permanent life. And within the permanent life category, there are several variations as explained below. Before seriously considering a policy, it's important to understand what these two basic types are and what types of life insurance coverage they are intended to provide.
The first type of life insurance, term life, is very straightforward. When you choose this type of coverage you pay for a specific duration of time. During that period, your chosen beneficiary receives the benefits of your policy in the event of your death. You should know that there are subcategories that fall under the category of term life insurance.

For example, you may choose an annually renewable term life policy. Obviously, this would be a policy you choose to renew (or not to renew) each year. Because the price of the policy and premiums may go up as you get older, consumers may want to choose to avoid the annually renewable term life policy in favor of something like a guaranteed level term life insurance policy. This type of policy stays the same price for a specific time period of time that can range from 5 to 30 years depending on what you've chosen. The newest type of term life is called ROP or return of premium term life insurance. It pays out the value to you at the end of the term if you are still living. If you die during the term the funds go to your beneficiary.
Permanent life insurance is the second type of life insurance. Permanent life insurance covers you for your entire life, and the premiums on permanent life are higher. Permanent life insurance has several variations from which you can choose.
The first type of permanent life insurance is called "whole life insurance". This type of life insurance policy covers you for your entire life rather than a specific term. A whole life policy will cost more on average and have higher premiums than term life policies, however, the investment potential and lifelong coverage are appealing to some insurance shoppers.
The second type of permananet life insurance is called "universal life" coverage. You can add your preferred amount to the minimum price of the premium. The insurance company then invests the funds with returns that are put into the premiums, or left to accumulate. One subcategory of universal life insurance is universal variable life which lets customers choose what they want to invest in rather than the insurance company choosing for them.
The third type of permanent life insurance is called "variable life". With variable coverage, you have more investment opportunities, which includes stocks. These types of life insurance policies are similar to universal coverage because the returns are either used towards premiums or allowed to accumulate in an account. Your beneficiary receives either the value of the policy, or the value of the policy, in addition to a portion of, or the full cash investment returns account.
If you need more help in choosing between the different types of life insurance policies available, please speak with a trusted insurance agent or you can do additional research online with the google search box further down on this page. Also note the additional category tabs to the left on this site, for other articles on life insurance basics such as Armed Forces life insurance rates, bad faith denial of insurance benefits, cashing life insurance policies in, and guaranteed issue whole life insurance rates.
Thanks for your time and I trust this information has been useful. Dan Jones

Life Insurance News:

Manulife expands into Cambodia's life insurance market - Sacramento Bee Manulife expands into Cambodia's life insurance market Sacramento Bee 15, 2011 /PRNewswire/ - Manulife Financial today announces that it has received "approval in principle" from Cambodia's Ministry of Economy and Finance to set up a wholly foreign-owned life insurance operation. Cambodia expands Manulife Asia's . Cambodian government gives Manulife 'approval in principle' to set up life .Winnipeg Free Press Manulife To Raise C$550M From Debt IssueWall Street Journal (India) Insurers Can Handle 'Japan-Light' But Can They Thrive Again?Seeking Alpha Globe and Mail all 18 news articles » ..

CORRECTING and REPLACING Securian Promotes, Appoints Five to National Account, Retail Wholesaling Positions ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Financial Group, Inc. reorganized its retail life insurance and annuity products distribution system with a new hire, promotions for three people and expanded responsibilities for another...

Holocaust survivors seek right to sue for $20B in Jewish insurance policies . - Washington Post Ha'aretz Holocaust survivors seek right to sue for $20B in Jewish insurance policies . Washington Post MIAMI EUR” Thousands of aging Holocaust survivors in the US want Congress to clear a path for them to sue European insurance companies they contend illegally confiscated Jewish life insurance policies during the Nazi era and have refused to pay an . Holocaust survivors seek $20B in Nazi-era policiesBoston.com all 149 news articles » ..

Personal Finance: What you should know about life insurance Insurance can be one of the least understood aspects of your financial plan. And unfortunately, you often hear of people being sold insurance that they may not need...

Local Company Using Video Games To Market Life Insurance Get Business Mobile Text Alerts Countless video games from Pac-Man to Grand Theft Auto involve a character trying to stay alive while advancing to trickier levels...

Gary Rudnicki, Head Of Recruiting, Jackson National Life Insurance Company . - TheStreet.com (press release) Bradenton Herald Gary Rudnicki, Head Of Recruiting, Jackson National Life Insurance Company . TheStreet.com (press release) By Business Wire 11/15/11 - 10:57 AM EST Jackson National Life Insurance Company (Jackson ), has appointed Gary Rudnicki head of recruiting. In his new role, Rudnicki, 52, will have responsibility for Jackson's nation-wide talent acquisition . Gary Rudnicki Named Head of Recruiting for JacksonMarketWatch (press release) all 9 news articles » ..

CaliforniaLife.com Offers Life Insurance Plans in Less than 48 Hours with No . - MarketWatch (press release) CaliforniaLife.com Offers Life Insurance Plans in Less than 48 Hours with No . MarketWatch (press release) 14, 2011 /PRNewswire via COMTEX/ -- Even those with life insurance realize they need more; the average main-street American only has enough for 3.6 years of replacement income. CaliforniaLife.com makes the process simple with online quoting, . and more » ..

Online Insurance Marketplace Announces an Increase in Search for Keyword "Life Insurance for Over 50" Online Insurance Marketplace ( http://www.onlineinsurancemarketplace.com ) Announces an Increase in Search for Keyword "Life Insurance for Over 50" (PRWeb November 14, 2011) Read the full story at http://www.prweb.com/releases/seniorlifeinsurance/lifeinsuranceforover50/prweb8964734.htm..

Online Insurance Marketplace Announces an Increase in Search for Keyword "Life . - San Francisco Chronicle (press release) Online Insurance Marketplace Announces an Increase in Search for Keyword "Life . San Francisco Chronicle (press release) Online Insurance Marketplace, the premiere site to get an affordable term life insurance quote, announced today an increase in the search for keyword, "life insurance for over 50." The company keeps track of searchable keywords related to the site, . and more » ..

Local J. Morey Company Provides Answers to Frequently Asked Questions Regarding CA Life Insurance Area insurance experts at J. Morey Company educate their local community on the benefits of life insurance coverage. (PRWeb November 14, 2011) Read the full story at http://www.prweb.com/releases/2011/11/prweb8960184.htm..

Analytical Reports on ING Groep N.V. and MetLife Inc. - Financial Sector Woes . - MarketWatch (press release) Analytical Reports on ING Groep N.V. and MetLife Inc. - Financial Sector Woes . MarketWatch (press release) As the financial crisis in Europe continues to unfold, companies in the Life Insurance industry are being affected by their various levels of exposure to European debt. Companies such as Dutch life insurance giant ING Groep NV announced that they would . and more » ..

Holocaust survivors seek $20B in Nazi-era policies Thousands of aging Holocaust survivors in the U.S. want Congress to clear a path for them to sue European insurance companies they contend illegally confiscated Jewish life insurance policies during the Nazi era and have refused to pay an estimated $20 billion still owed...

Manulife expands into Cambodia's life insurance market Manulife expands into Cambodia's life insurance market..

Gary Rudnicki Named Head of Recruiting for Jackson Jackson National Life Insurance Company (Jackson ), has appointed Gary Rudnicki head of recruiting. In his new role, Rudnicki, ...

Mr. Fernando Moreira appointed as the General Manager & CEO of Cigna & CMC Life Insurance Company Limited Cigna today announced that Mr. Fernando Moreira has been appointed to the position of General Manager CEO for Cigna CMC Life Insurance Company Limited, ...

Mr. Fernando Moreira Appointed As The General Manager & CEO Of Cigna & CMC . - TheStreet.com (press release) Bradenton Herald Mr. Fernando Moreira Appointed As The General Manager & CEO Of Cigna & CMC . TheStreet.com (press release) By Business Wire 11/15/11 - 06:00 PM EST Cigna today announced that Mr. Fernando Moreira has been appointed to the position of General Manager & CEO for Cigna & CMC Life Insurance Company Limited, effective December 1, 2011. . Mr. Fernando Moreira appointed as the General Manager & CEO of Cigna & CMC .MarketWatch (press release) Mr. Fernando Moreira appointed as the General Manager & CEO of Cigna & CMC .EON: Enhanced Online News (press release) all 11 news articles » ..

CORRECTING and REPLACING Securian Promotes, Appoints Five to National Account . - Business Wire (press release) CORRECTING and REPLACING Securian Promotes, Appoints Five to National Account . Business Wire (press release) (BUSINESS WIRE)--Eighth paragraph, second sentence of the story dated November 14, 2011 should read: Now one of the nation's largest financial services providers, it is the holding company parent of a group that includes Minnesota Life Insurance . CORRECTING and REPLACING Securian Promotes, Appoints Five to National Account .MarketWatch (press release) all 9 news articles » ..

Decoding life insurance Which is the best option - Moneycontrol.com Moneycontrol.com Decoding life insurance Which is the best option Moneycontrol.com If none of your family members, classmates, neighbors, or bank manager is a life insurance agent, then idea of life-insurance will probably first come your way when you are planning your tax returns. Well this is difficult, because half of the Indian . Q&A: InsuranceEconomic Times East Valley woman claims life insurance was erroneously canceledAZFamily Ask Mint Money | Non-disclosure of health records can lead to rejection of claimLivemint Lexington Herald Leader -e-wisdom.com all 6 news articles » ..

AM Best Places Ratings of Brokers National Life Assurance Company Under Review . - MarketWatch (press release) AM Best Places Ratings of Brokers National Life Assurance Company Under Review . MarketWatch (press release) OLDWICK, NJ, Nov 15, 2011 (BUSINESS WIRE) -- AM Best Co. has placed under review with positive implications the financial strength rating of B+ (Good) and issuer credit rating of "bbb-" of Brokers National Life Assurance Company (BNLAC) (headquartered . and more » ..

Marketing Life Insurance Is a Game For AXA Equitable EUR” Online Get Business Mobile Text Alerts Countless video games from Pac-Man to Grand Theft Auto involve a character trying to stay alive while advancing to trickier levels...