Term life insurance has a fixed death benefit, but it does not have cash value. Permanent life insurance is coverage that typically lasts for your entire life and can build cash value. There are several types of permanent life insurance, including whole life, universal life, and variable life insurance.
What are the 3 main types of life insurance?
The three main types are whole, universal life insurance, and term life insurance.
What are the 4 main types of insurance?
There are, however, four types of insurance that most financial experts recommend we all have: life, health, auto, and long-term disability."
What are the 6 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.