 |  |  |
  |  |
| | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| marriage lic
| These policies tend to be higher because not only are you paying for insurance, but are also putting funds into a savings account, which you can borrow against, or use as collateral. Other types of life insurance include not only a death benefit, but also have a cash value. Whole life gives your family permanent protection, as well as builds cash value, which the insurance company manages. There are basically five different types of life insurance, and knowing the different types can help you decide which one is right for you and your family. It provides a death benefit, and offers a tax deferred accumulation of money, in a low risk account.. There are both advantages and disadvantages to this kind of policy. This is just insurance on the event of your death, and pays a designated amount of money to the beneficiary. The cheapest and simplest insurance is the term life insurance. One of these is called whole life. If you want a policy that protects your family when you die, can pay for funeral expenses, as well as a some extra to help them out, this is the way to go. It has no cash value like other policies, and both the policy limit, as well as the death benefit is the same, up to $200,000. |