For
other types of life insurance policies such as endowment policy, the maturity amount is payable at the end of the policy term on survival of the policy holder.
There are plenty
of types of life insurance for seniors to utilize, but some are going to be much better than others, relatively speaking.
If you do not have any other
types of life insurance in place, you could add an additional amount of coverage when you purchase burial insurance.
Now you have come up with an amount that will protect your family you might be asking yourself what
type of life insurance do I buy?
Generally speaking, guaranteed issue life insurance will cost a bit more than some other traditional
types of life insurance because of the increased risk factor taken on by the insurer.
These policies are also convertible, meaning that this term life insurance coverage can be converted over into a
permanent type of life insurance coverage over time.
Other
types of life insurance such as universal life policies, discussed above, offer flexible premium plans that may be more appropriate for those who need it.
Here is a complete comparison of the costs of the the costs of the main
types of life insurance so you can choose the best fit for your situation.
Phrases with «type of life insurance»