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Which of the following is the most common type of life insurance policy offered by companies


The most common type of group life insurance is group term insurance that renews yearly. This type of insurance provides only a death benefit and is the least expensive option.

What is the most common type of life insurance?

Term life insurance\n\n Term is the most popular type of life insurance for most people because it's straightforward, affordable, and only lasts for as long as you need it. Term life insurance is one of the easiest and cheapest ways to provide a financial safety net for your loved ones.

What are the two most common types of life insurance?

Types of life insurance explained. There are two primary categories of life insurance: term and permanent. Term life insurance lasts for a set timeframe (usually 10 to 30 years), making it a more affordable option, while permanent life insurance lasts your entire lifetime.

What are the 3 main types of life insurance?

The three main types are whole, universal life insurance, and term life insurance.

What is the best type of life insurance to get?

If budgeting is your biggest concern, term life insurance may be the best choice. If you have many dependents, whole life insurance may be a better route. However, if financial planning and cash value are most important to you, universal life insurance may be a strong option.




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