What are the types of life insurance?

1, life insurance is divided into whole life insurance and term life insurance. Term life insurance means that the insured dies or is completely disabled within the period stipulated in the insurance contract, and the insurance company pays the insurance money according to the agreed insurance amount; If the insured is alive at the expiration of the insurance period, the insurance contract will be terminated naturally, and the insurance company will no longer bear the insurance liability and will not refund the insurance premium. The insurance period of term life insurance is 10 years, 15 years, 20 years, or 50 years, 60 years and other agreed ages, and it is usually guaranteed until 60 years old.

2. whole life insurance refers to indefinite death insurance. After the conclusion of the insurance contract, whenever the insured dies, the insurer shall pay the insurance premium, and the insurance company shall bear the insurance liability for the insured for life until the insurer dies. So the biggest advantage of whole life insurance is that the insurance period is life. Although the coverage period in whole life insurance is longer than that in fixed life insurance, not all whole life insurance covers total disability, and a considerable part of lifelong liability only includes death and does not include disability.

3. From the perspective of pure guarantee. Term life insurance is the first choice. Compared with whole life insurance, the advantage of consumption-based fixed life is that you can get the same amount of protection with relatively little premium. Therefore, if you just want to get a simple and high-quality life insurance, pure consumer term life insurance is a better choice.