Of the
various types of life insurance available today, there are basically three types
of life insurance namely;
1. Endowment Insurance
This Insurance
consists of two important elements that combine between life protection and savings.
The life protection provides protection of death. Saving element in these
insurance higher so fit for the purpose of saving. With a savings element which
is higher than the futures and Insurance whole life insurance.
2. Whole Life Insurance
Life
insurance a lifetime designed to provide protection lifetime of the insured for
he was guarding the policy remain active with through payment of a premium of the
policy. In addition, protection died policy in also provides element savings
known as the value of cash that arises because of a premium in order to stay.
3. Term Life Insurance
Is the
contract of life insurance whereby face amount is payable only if the death
occurred in periods of the face amount of insurance still in place? Term
insurance is a insurance the simplest and most old. Type of insurance is
sometimes called also insurance meanwhile, according to as much as. The
payments on these insurance also cheapest compared with endowment insurance and
whole life insurance.
