Life Insurance Can Be Divided Into Three Types: Term, Permanent And No Medical Insurance
Term insurance is for a temporary need. Examples would be mortgages/debt and young families are two good examples. If you should pass away could your family maintain the lifestyle they are use to. Term insurance is the cheapest premium to start with. The most common Term Insurance periods are 10 years, 20 years or 30 years.
Permanent insurance is your solution if you need insurance coverage for your family when you pass away. There are three types : Term to 100, Whole Life and Universal Life. You can pay premium for 10 or 20 years and have the insurance for a lifetime. Also there are saving components or cash values connected with whole and universal insurance.
No Medical Insurance
No medical insurance may be your solution if you don’t want to have a nurse come to your home or you have a illness that you think will disqualify you from the regular Insurance.