Types of Life Insurance

Which type of life insurance is right for you? There are two main types: term life insurance and permanent life insurance. Term life insurance is the simplest and least expensive type of policy because it is pure death benefit; it does not build up any cash value. The policies that provide permanent protection, such as whole life insurance, do build up a cash value account for your dependents. And that is what makes it more expensive than term life. Just remember that the purpose and therefore most important reason for having life insurance coverage is to provide future protection for those you love-- your family and dependents.