From Term Life Insurance and Whole Life Insurance to Universal Life Insurance and Variable Universal Life Insurance, Life Ant Explains the Life Insurance Types in Great Detail
NEW YORK, NY / ACCESSWIRE / May 21, 2019 / The founder of Life Ant, a life insurance broker based in New York City, is pleased to announce that he has just posted an educational article to the website that explains the four life insurance types.
To read the article in its entirety and learn more about the four types of life insurance, please check out https://www.lifeant.com/life-insurance-types-explained/.
As the article notes, for people who are new to the land of life insurance, it can be confusing to decide which type of policy is best. Because it is so important for people to have a clear understanding of the four type of life insurance, which in turn can help them to determine which policy they should purchase, the founder of Life Ant was inspired to research and write the in-depth article.
"For the protection of everyone purchasing a life insurance contract, we always recommend that our clients educate themselves as thoroughly as they can before making a purchasing decision," the article noted, adding that the four major types of life insurance policies are: Whole Life Insurance, Term Life Insurance, Universal Life Insurance and Variable Universal Life Insurance.
In general, the article notes, Term Life Insurance is the least expensive type of life insurance. While this factor makes it an attractive policy for many people, if they outlive the length of the term policy, they will not receive any death benefits.
In contrast, Whole Life Insurance is a type of life insurance policy that is meant to be permanent and last for the insured person's entire life. The policy will build a cash value over time, and in many cases, the policies will have a dividend payment that becomes high enough to pay the entire premium after a certain point.
"The big advantage of whole life is that the insured person can never outlive it. Beneficiaries are always protected for the long term," the article noted, adding for this reason, whole life insurance is often used for estate planning, and to fund generational trusts.
About Life Ant:
Life Ant is a life insurance broker located in New York City. In business since 2013, Life Ant has helped millions of Americans save on their life insurance costs. Please visit https://www.lifeant.com for a free life insurance quote today.
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SOURCE: Life Ant