All Horizon Financial Services

Your Life Story: Life Insurance Policy Types

Your Life Story: Life Insurance Policy Types

Life Insurance Policy Types varies but perform the same basic function, protection.

Our  basic human instinct is survival. Consciously we do not often think of our mortality, unless we are reminded. Life Insurance is one way to protect your family against your death; you can rest assured that your loved ones will be taken care of long after you have gone. Buy  Life Insurance -ITS AN ACT OF LOVE

Life Insurance Policy Types

Life insurance is an insurance policy that will pay out a lump sum of money when the insured individual dies, or after an aforementioned established time. There are Four types of life insurance policies you can choose from: Whole Life Insurance, Universal Life InsuranceVariable Life Insurance, Term Life Insurance.

Whole Life Insurance is a policy that will pay out a preset amount in the event of your death. Your premium payment in part will be set aside to construct the cash value from investments made by the insurance company on your behalf. For this reason your insurance policy appreciates with time and covers you for your whole life, according to

Universal Life Insurance is a policy that is guaranteed at a certain rate per the current interest’s rates, according to This type of policy has a cash value, premium and level amount of protection that is adjustable per your needs, according to It combines a term life insurance policy with a money market investment.

The most popular from of life insurance is Term Life Insurance; this protects your family against any financial losses they may incur should you pass. With this policy you designate beneficiaries that will receive payments for a maximum length of 30 years. The premiums for Term Life policies are also significantly cheaper but increase as the policy owner gets older, according to

Now Variable Life Insurance has an investment element. This policy is a conglomerate which encompasses the duality of traditional protection for the insured and the savings element that a Whole Life Insurance policy offers, according to There it is divided into separate accounts—the main account and the sub account which is an investment portfolio that can contain different investment funds i.e. bond fund, money market fund,  etc. This policy gets its name from the policies ability to fluctuate in cash value because of the investment feature, according to

Death may come at any time. The grieving process is already grueling. Don’t leave your loved ones with the responsibility of paying your debts, planning funeral arrangements, or just scavenging for the bare necessities in your absence. You can have peace of mind with a life insurance policy, your family will be well taken care of.

Get a Life insurance Quote

Cierra Robinson is a freelance writer and artist. For content writing help contact her at r.


Follow All Horizon Financial Services, Get Social