This a unique type of insurance. While the coverage is limited, say for instance, fifteen or twenty years, it has savings. At the end of the coverage, you will receive a specified sum of money provided you are living. You can use the proceeds of the coverage for future large expenses like the weddings of your kids, purchase of a house or car, foreign travel, or business capital. You can use it as a retirement or educational fund, too.
4. Variable life Products.
This is the latest type of life insurance in the market today. A portion of the premium is invested on bonds or stocks depending on your risk tolerance. If you are the type of person who want to accumulate wealth overtime or who want to put your money in high-yield investment instrument, this type of insurance is for you.
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To know more about the different types of insurance and the product that suits your needs, seek an appointment with your financial adviser.