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Basically Perm and Term. Perm or whole life or Cash Value life can be several different types such as Single Premium Whole Life, Indexed Universal Life, Universal Life, several different variations of WL such as Interest Sensitive WL and then there are the variables. Also, the "new" term pays you all your money back in the end. Broadly there are two types of life insurance:

a. Term life insurance

b. Permanent life insurance

Term life insurance can be further categorized into: a) Annually renewable term life insurance (ART) b) Guaranteed level term life insurance c) return of premium life insurance (ROP)

While permanent life insurance can be further categorized into:

a) Whole life insurance

b) Universal Life insurance

c) To age 100 level guaranteed life insurance

d) Survivorship or 2nd- to- die life insurance

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โˆ™ 2009-05-04 05:33:44
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