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 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."