New Page on the NBER Website That Documents The Various Life Insurance Types

By: jackcoxill
January 12, 2013 at 2:29 pm

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If you are starting to get older and you are thinking about life insurance, then you might want to familiarize yourself with the various types of life insurance that you can purchase. Life insurance is a big thing to invest in, it’s something that can provide financial security for loved ones such as family members, in the event that something were to happen to you. If you have people that depend on you and the income that you make, then you need to have a life insurance policy that protects you. life insurance over 50 websites like nbercom specialize in presenting the various types of life insurance that are available to individuals today.
Whole life insurance

This is a type of life insurance plan that is very common. Whole life insurance is guaranteed to provide protection for your entire life. It’s a popular life insurance plan, primarily because the premiums on this type of plan stay fairly consistent. They will not fluctuate, even when you get older and are at higher risk. A whole life insurance plan is often considered an investment for the policyholder, sometimes you can even withdraw your investments at specific points when you have invested in the plan. Keep in mind, whole life insurance plans have higher premiums.
Universal life

Another common type of life insurance plan is called universal life insurance. This is a plan that is permanent and it provides substantial cash benefits to the beneficiaries, when the death of the policyholder occurs. It is different from whole life insurance because the amount that can be provided to the beneficiary can always be adjusted throughout the length of the plan. It will never fall below a specified amount, but it is adjustable so that you can change the plan while you are paying for.
Variable life

On the nbercom website, you can also find information about variable lifeinsurance plans. This is a type of life insurance that allows the policyholder to experience growth from their investments. Variable life insurance usually has two accounts, one which is the general account, the other is a separate account. The general account is known as the liability accounts, the separate account is used for equity funds and money market funds, which are used to help invest in the life insurance plan. This is a risky type of life insurance and how much money the beneficiary receives upon the death of the person can fluctuate greatly.
Term life

A term life insurance plan runs for about 30 years. This is a plan that will protect the dependents of view, such as a wife or children throughout the specified time frame. The limitation means that you will pay much lower premium. However, your premiums can increase as you get older in age and the risk of death becomes more prominent. Term life insurance is usually preferred by most people, it offers flexibility and they can even be renewed once you are approaching the expiration date of your life insurance policy. It’s important that you evaluate each type of life insurance plan, that is why the nbercom website was invented and it’s highly recommended if you are considering life insurance over 50 options.

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