What kinds of life insurance are there and what is the difference?

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The common types of life insurance on the market are mainly the following three kinds of life insurance: death insurance, survival insurance, and two full insurance.?

1. There are two main types of death insurance, one is term death insurance, which can also be called term life insurance, and the other is whole life death insurance, which can also be called whole life insurance. Term life insurance refers to an insurance policy that pays out benefits to beneficiaries when the insured dies during the term of the policy. If the insured survives until the expiration of the insurance term, the insurance company does not have to pay out benefits or return premiums. This type of life insurance is mainly to provide protection for the insured to engage in high-risk activities or work in a short period of time. Life Insurance Product Information

Simply put, whole life insurance is a longer term life insurance policy that lasts for the lifetime of the insured. And since people are bound to die, the benefits of whole life insurance are bound to be paid to the beneficiaries. And because of this feature, whole life insurance has higher premiums than regular term life insurance, as well as a savings feature.?

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2. Survival insurance. Survival insurance requires that the insured must survive until the end of the insurance period in order to receive the benefits. If the insured dies in the middle of the insurance period, then the benefits will not be available and the premiums will not be refundable.?

3. Dual insurance. Dual insurance is a combination of death insurance and survival insurance. If the insured dies during the insurance period, then the beneficiary can receive the death benefit; if the insured survives to the end of the insurance period, then the insured can receive the survival benefit at the end of the insurance period. Dual insurance is the most popular and common life insurance in the life insurance market.