Life Insurance

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What types of Life Insurance are there?

Life insurance is difficult for many people to talk about for several reasons. Firstly, it usually assumes a very unpleasant state of affairs – that you have passed away, which is something no one wants to think about. Secondly, it is full of unfamiliar terms and difficult-to-understand concepts. Even understanding what types of life insurance exists can be difficult. There are, however, only two types of Life Insurance, being Term Assurance and Whole of Life Insurance. Each of these, in turn, has policy variants which further hinder our understanding of Life insurance.

Life Insurance: Who Needs it?

Life insurance is a complex and daunting prospect for many people. With many types and kinds, some wonder if they even need it.

One way of approaching life insurance, and of making a good decision on whether or not you should purchase it, is to consider what will happen and who will be affected after you die. The idea of life insurance is that it will allow those affected by your death to continue to live at roughly the same standard of living they enjoyed when you were alive.