Types Of Life Insurance

There are four basic types of life insurance from which you can choose. Before seriously considering a policy, it's important to understand what these four types are and what they entail.

The first is called term life insurance. Term life insurance 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.

Whole life insurance is another type of coverage to consider. This type of 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.

Then there's 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.

Variable life is another one of the main basic types of life insurance. With variable coverage, you have more investment opportunities, which includes stocks. This policy type is 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 help choosing between the policies available, speak with a trusted insurance agent or try doing additional research online.



 

 

Life Insurance News:

 

AIG raises $15.5 in sale of Alico insurance unit to MetLife, will use proceeds to repay govt (Minneapolis-St. Paul Star Tribune)
NEW YORK - American International Group is selling an overseas life and health insurance unit for $15.5 billion to MetLife as it continues to shed assets to repay billions in government aid...


Free Article Directory EUR Powered by Wordpress » Life Insurance .
For all those who think that life insurance is why too expensive, there are some really affordable life insurance quotes that they should take a look at. In today's rat race there is no place for negligence, and life insurance is ...


AIG sells Asian life insurance unit to repay bailout debt - Washington Post

Reuters

AIG sells Asian life insurance unit to repay bailout debt
Washington Post
American International Group agreed on Monday to offload its prized Asian life insurance business for $35.5 billion, the troubled firm's .
Prudential Undecided On Buying AIG's Stake In Tata Life JVWall Street Journal
Insurers See Future in Asia as Rescued AIG RetreatsBusinessWeek
BestWeek Asia/Pacific: Prudential's Bid for AIA Could Remake the Region's Life .MarketWatch (press release)
Wall Street Journal (blog) -Forbes -Business Standard
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FACTBOX-Asia's top IPOs slated for 2010 - Reuters

FACTBOX-Asia's top IPOs slated for 2010
Reuters
March 8 (Reuters) - Dai-ichi Mutual Life Insurance said its IPO, Japan's biggest in 12 years, would raise as much as 1.1 trillion yen ($12 billion) at the .
Dai-ichi Life Sets Tentative Price Range for IPOWall Street Journal
Dai-ichi offering may kickstart Japan's stagnant IPO marketBusiness Times (subscription)

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Dai-ichi Life sets price range for US$12b IPO (MalaysiaNews.net)
TOKYO: Dai-ichi Mutual Life Insurance said on Monday its IPO, Japan's biggest in 12 years, would raise as much as 1.1 trillion yen (US$12 billion) at the top of a price range, roughly in line with exp...


AIG, From Shanghai to Bailout - Wall Street Journal

AIG, From Shanghai to Bailout
Wall Street Journal
His was the first foreign company to sell life insurance to the Chinese. In 1935, Starr was featured in Fortune magazine for having profits estimated to be .

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Free Article Directory EUR Powered by Wordpress » Life Insurance .
Life insurance ceased to be a once in a lifetime decision today. You can no longer sit back and relax once you have signed up for a good policy. And that is because you can never put a price on your life worth financially, ...


Alico Deal Will Transform MetLife - Wall Street Journal

BBC News

Alico Deal Will Transform MetLife
Wall Street Journal
After weeks of delays because of tax issues, AIG and MetLife announced a deal Monday of American Life Insurance Co., or Alico, which is AIG's second-biggest .
MetLife to Acquire American Life Insurance Company from American International .MarketWatch (press release)
AIG in $15.5 billion unit sale to MetLifeCNNMoney.com
After MetLife Deal, A.I.G.'s Next Step Is UnclearNew York Times (blog)
Washington Post -Reuters -BBC News
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AIG to receive $231M termination fee if sale of Asian life insurance unit to Prudential fails (Minneapolis-St. Paul Star Tribune)
NEW YORK - American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain's Prudential PLC falls through...


Indo Article Directory » Life insurance rates, Step 1: Know .
after all who do not need life insurance at all. And then there are people who are currently unstable in financial terms, but would like to insure themselves nevertheless. Plus of course there are those people who would like to be ...


China Life seeking to acquire a bank: chairman - Reuters

China Life seeking to acquire a bank: chairman
Reuters
BEIJING (Reuters) - China Life Insurance Co (2628.HK)(601628.SS), the world's biggest life insurer by market value, is looking to acquire a bank, .
China Life: Pushing Forward Plan To Invest In Agricultural BankWall Street Journal
Fitch Teleconference: Chinese Life And Non-Life Insurance Sector Review .NASDAQ
Chinese insurance giants report Jan. premiums growthTrading Markets (press release)
Insurance News Net (press release) -Chinavestor.com -JLM Pacific Epoch
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What LIFE insurance companies have had a bad record in denying .
I am deciding which company to go with for my life insurance purchase. Wanted to make sure my spouse and child wouldn't be mistreated by the company should...


MetLife to Acquire American Life Insurance Company from American International Group for Approximately $15.5 Billion (Business Wire via Yahoo! Finance)
NEW YORK----MetLife, Inc. announced today a definitive agreement to acquire one of American International Group, Inc.s international subsidiaries, American Life Insurance Company , for approximately $15.5 billion...


A.I.G. to Sell a Major Life Insurance Unit to MetLife - DealBook .
The American International Group agreed on Sunday to sell a big life insurance unit to MetLife for about $15.5 billion, people briefed on the matter told DealBook, in what would be a second big transaction in one week to help repay its ...


AIG raises $15.5B in sale of Alico insurance unit to MetLife, will use proceeds to repay gov't (Minneapolis-St. Paul Star Tribune)
NEW YORK - American International Group will sell its overseas life and health insurance unit for $15.5 billion to MetLife Inc., the insurer said Monday, as it attempts to repay billions in government aid...


Shinsegae to raise $440 mln via Samsung stake sale-report - Reuters

Shinsegae to raise $440 mln via Samsung stake sale-report
Reuters
KS) is planning to raise 500 billion won ($440 million) by selling a stake in Samsung Life Insurance, which is set to go public in the coming months, .

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Nationwide Life Insurance EUR Overview
What type of life insurance coverage do they require and how much is a question almost all people will consider at some stage in time. Households grow and the...


SmarTrend's Candlestick Scanner Detects Bullish Engulfing Pattern for China . - Trading Markets (press release)

SmarTrend's Candlestick Scanner Detects Bullish Engulfing Pattern for China .
Trading Markets (press release)
SmarTrend's candlestick pattern scanner has detected a bullish engulfing pattern for shares of China Life Insurance (NYSE: LFC | Quote | Chart | News .

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A.I.G. Is Set to Sell a Life Insurance Unit to MetLife (New York Times)
The American International Group was close to completing a deal to sell a big life insurance unit to MetLife for about $15.5 billion, people briefed on the matter told DealBook on Sunday, in what would be a second big transaction in one week to help repay its taxpayer-financed rescue...


Sector movers: Prudential plans boost insurance sector - ShareCast

Times Online

Sector movers: Prudential plans boost insurance sector
ShareCast
LONDON (SHARECAST) - The life insurance sector is higher after investors gave a warm reception to Prudential's acceleration of its plans for a listing on .
AIG makes dent in debt with sale of prized unitBusiness Insurance
Pru/AIA deal to create opportunities-Aviva-INTERVIEW-UPDATE 1Forexyard
HK shares end at 6-week high; China up on propertyReuters
Wall Street Journal -Globalsurance (blog) -Las Vegas Sun
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For Monmouth County couple, cash flow looks good, but extra insurance may come . - The Star-Ledger - NJ.com

For Monmouth County couple, cash flow looks good, but extra insurance may come .
The Star-Ledger - NJ.com
The Monmouth County couple could do just fine with several pension payout options as long as they make sure to purchase additional term life insurance on .

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Life Insurance: To Smoothen things in Case Things Get Rough
In today's life that is filled with uncertainties, Life Insurance is no longer for the privileged or only the elderly. There are many responsibilities to be fulfilled in one life and there are people who are dependent on you for their ...


AIG to receive $231M termination fee if sale of Asian life insurance unit to Prudential fails (MalaysiaNews.net)
NEW YORK - American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain's Prudential PLC falls through. In a filing ...


Life insurance in superannuation (Money Management)
As the debate about life insurance in superannuation continues to create divisions in the industry, Geoff Black explains the importance of maintaining the status quo...



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