Sentences with phrase «category as whole life insurance»
To me annuities fall into the same category as whole life insurance policies.
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While these products are all structured differently, the term and whole life insurance policies would fall within the category of final expense insurance, as they have limited payouts that are better suited to covering end - of - life costs than income replacement.
Aside from permanent life insurance policies such as whole life, the other main category of life insurance is called term life insurance.
The other category is permanent insurance — such as universal life and whole life — where the premiums start out higher but stay level throughout your life.
You can categorize permanent life insurance into two categories permanent life insurance that can build cash value — such as whole life, or universal life.
Although several types of life insurance exist, two main categories of life insurance can be defined as term life insurance and whole life insurance.
Aside from permanent life insurance policies such as whole life, the other main category of life insurance is called term life insurance.