How Does The Type Of Policy Affect My Life Insurance?

As there are a great number of types of policies, each policy will affect your life insurance differently. The policy can affect many aspects of the insurance, including whether it has cash or loan value and how long the length of tie is that you must pay premiums on, among other things.

Different types of policies include term policy, whole life (there are variations of this too; they include: 20 year payment life and life paid up at 65), variable life, endowment, universal life or even some other type.