Different Types of Life Insurance | Life & Health Insurance

Life insurance is very popular among society since it gives many advantages for the insured people. One of life insurance types is universal life insurance. If you want to have this kind of insurance you should pay the premiums directly to the company, especially to the cash value account. The interest of this insurance will be credited to the account and you will get deduction of insurance cost from that account. There is no cash value in this type of insurance so the policy will terminate. It functions to separate the insurance costs from the function of interest or cash value in the policy.

? ? ? ? ? ??Due to the effectiveness of the cost insurance and the cash value of the policy, the universal life insurance is called with flexible life insurance. The strength of this life insurance is the premium rates that can be changed at any time as long as the insured people have enough money in their cash value account to pay the insurance costs. Another type of life insurance is variable life insurance that offers both saving account and life insurance policy. So, the insured people should pay certain amount of money in a market-based savings account and they will also get payment when they die.?

Source: http://musingsofavastright-winger.blogspot.com/2012/07/different-types-of-life-insurance.html

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