Life insurance types are often distinguished by how long the policy can last, whether it builds cash value, and whether the premiums or death benefit can be variable. See more

The basics: 1. Policy length:Common level term periods include 5, 10, 15, 20 or 30 years 2. Cash value:No 3. Premiums:Level, annual renewable or decreasing 4. Death benefit:Fixe… See more

The basics: 1. Policy length:Permanent 2. Cash value:Yes 3. Premiums:Level 4. Death benefit:Fixed How it works: Whole life insurancecan provide coverage for the duration of … See more

The basics: 1. Policy length:Permanent 2. Cash value:Yes 3. Premiums:Might be flexible 4. Death benefit:Might be flexible How it works: Universal life insurance (UL) can be har… See more