Life Insurance
Life Insurance is basically a contractual guarantee of a specific amount of money to be paid to a denoted beneficiary following the death of the insured. On the opposite side of the spectrum, the money from a life insurance policy can be designated for the insured if he or she manages to live beyond a certain age.For the most part, there are five categories of life insurance with which to choose from. The most common life insurance policy is a Term Life policy. This is the easiest & cheapest form of life insurance. It has no cash value account, and is strictly insurance. The death benefit & the policy limit are the same for a term life policy. I.E, a $300,000 policy pays a $300,000 death benefit to the pre-established beneficiary. cruises to St Petersburg
The other four types of life insurance are referred to as "cash value policies," in that they provide you with both a cash value account & a death benefit. They are as follows:
- Whole Life- This type of life insurance provides its holders with permanent protection for their dependents whilst building a cash value account at the same time.
- Variable Life- This type of life insurance provides its holders with permanent protection along with a certain degree of account flexibility for a more risk-oriented policyholder. (Allows you to borrow from the policy throughout your lifetime if necessary)
- Universal Life- This type of life insurance provides its holders with permanent protection for their dependents & is even more flexible than Whole or Variable life.
- Universal Variable Life- This type of life insurance allots the policyholder much more flexibility and control of their cash value account policy features than any other form of life insurance.
> > > Where can I find a more detailed explanation of these LIFE INSURANCE POLICIES
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