Life Insurance
There are two basic types of Life Insurance products.
- Temporary Life Insurance
- Permanent Life Insurance
Permanent Life Insurance is broadly classified as
- Whole life insurance
- universal life insurance
- endowment life insurance
The key factors which are considered in insurance are: face amount, premium to be paid, and length of coverage (term). Insurance products are derived from different conbinations of these three factors. Another common type of term insurance is mortgage insurance, which is usually a level premium, declining face value policy.
Life Insurance Related Products Riders are modifications to the insurance policy added at the same time the policy is issued. These riders change the basic policy to provide some feature desired by the policy owner. A common rider is accidental death, which used to be commonly referred to as "double indemnity", which pays twice the amount of the policy face value if death results from accidental causes, as if both a full coverage policy and an accidental death policy were in effect on the insured.
Few more Life Insurance Types:
* Critical Illness Insurance
* Term life insurance
* Permanent life insurance
* Whole life insurance
* Universal life insurance
* Variable universal life insurance
* Corporate-owned life insurance
* Servicemembers' Group Life Insurance
* Segregated funds
* Annuity (financial contracts)
* Life annuity
* Independent Financial Advisers
* Estate planning
* Retirement planning
* False insurance claims
* Underwriting
* Medical Underwriting
* Life expectancy
* Economic capital
* General insurance
* Pet insurance