Defining life insurance


One thing that many consumers don’t realize is how broad a term life insurance actually is.

Life insurance is generally thought of as only two products—term life and whole life—but there are many other types, including permanent life (think universal and variable) and convertible policies, which can be traded to cash value or used to buy additional coverage.

Because there are so many different options, it’s critical to make sure you know what type of policy you need before shopping around. And regardless of which policy you choose, getting advice from an independent financial adviser will help ensure that you have enough coverage at a fair price.


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