There are two major types of life insurance—term and whole life. Whole life is sometimes called permanent life insurance, and it encompasses several subcategories, including traditional whole life, universal life, variable life and variable universal life. Life insurance products for groups are different from life insurance sold to individuals. The information below focuses on life insurance sold to individuals. Historically Term Life insurance policies issued are close to 40% while whole life or a variation make up the reaming 60% ...
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