Whole Life
This type of insurance is permanent insurance and it provides protection for life for a level premium. Depending on the type of plan, whole life insurance amortizes the cost of insurance either over the lifetime of the insured or over a limited period of time, such as 10 or 20 years.
This product also has cash values, which are available if the policy is surrendered. In addition, they often offer non-forfeiture options such as automatic premium loan, cash loans, collateral assignment, etc.
This type of insurance is permanent insurance and it provides protection for life for a level premium. Depending on the type of plan, whole life insurance amortizes the cost of insurance either over the lifetime of the insured or over a limited period of time, such as 10 or 20 years.
This product also has cash values, which are available if the policy is surrendered. In addition, they often offer non-forfeiture options such as automatic premium loan, cash loans, collateral assignment, etc.