What Types of Life Insurance Policies Are There?
Life insurance policies are divided into two main categories; entire life policy and term life policy. Both the policies have their own coverage and features. In theory, term life policies seem to have better coverage than the entire life policy. If you are looking for a short term insurance plan, term life policy is the one which you should pick. Premiums of this policy are lower than the other plan, and terms and conditions are also straightforward. Since it’s a short-term plan, you can then easily renew it later. This policy is usually suitable for young people. The main reason why people don’t like entire life policy is higher premium cost.