What types of life insurance coverage are available to collect on?
The four main life insurance coverage policies are term life insurance coverage, which pays your beneficiary a fixed amount of money upon death, whole life insurance coverage, where premiums remain at a fixed level and the policy generally builds up cash value on a tax-deferred basis, universal life insurance coverage, which allows the policy holder to adjust the death benefit and premium payments, and variable life insurance coverage, where benefits and risk are determined in part by financial markets.
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