How Many Types of Life Insurance Are There?

Transcript

Hi, everyone Ivanhoe Sanchez here. Today I want to speak about Life Insurance

Life Insurance is a financial instrument that will leave money when you pass away, to a named beneficiary. Now, there are three types of Life Insurance that I want you to know about.

The first one is Term Insurance. Term Insurance is a type of insurance that is made specific for a period of time. 10 years, 15, 20, 30 even 40 years there are products available for that.

The second type of Life Insurance is Universal. Universal is a permanent type of Life Insurance usually you can choose from having cash value on a universal policy or not having cash value on a universal policy. I will speak about that later, on a different video. 

The third type of Life Insurance is Whole Life. Whole Life is also permanent, and the intent when you buy Whole Life is to build Cash Value for the future. 

If you want to have more information about Life Insurance. Please contact me, the information is below.