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What is the difference between main types of life insurance?

April 26, 2017Life Insurance main permanent life permanent life insurance term life insurance types types of life insurance universal life

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What is the difference between main types of life insurance?

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There are two main types of life insurance-whole life (permanent life insurance) and term. Whole life includes several subtypes: universal, traditional, variable and variable universal. Five years ago, about 6.4 million individual life insurance policies purchased were term life insurance and about 7.1 million were whole life. There is difference between life insurance products for groups and for individuals. Below you will find some information that is focused on life insurance for individuals.