Kinds of Life Insurance
There are two major types of life insurance, Term and Whole Life. Term insurance generally does not accumulate cash value and is issued to just cover the life of the insured for a specified period of time. Whole Life Insurance does accumulate cash value and is issued to cover the insured throughout their lifetime. Other variations of these products include: Decreasing Term (Mortgage Insurance), Universal Life (Flexible Premium Adjustable Life), Variable Life, Endowment, Graded Life, and Single Premium Paid-Up.