MANAGEMENT

Detailed explanation-1: -Whole life insurance is a type of life insurance that offers coverage right until the death of the policyholder.

Detailed explanation-2: -The four most common types of permanent, cash value life insurance are whole life, standard universal life insurance (UL), variable UL, and indexed UL. All these policies can provide life-long insurance protection and a tax-advantaged financial asset.

Detailed explanation-3: -Whole life insurance is a permanent life plan that provides coverage throughout your entire life. The premiums tend to cost more than a term plan would, but getting this insurance plan may be beneficial in the long run.

Detailed explanation-4: -Permanent life, often called whole life insurance or cash value life insurance, provides coverage for the insured person’s lifetime as long as premium payments are in good standing. Unlike term life, these policies may build cash value, which a policyholder or their heirs can access under certain conditions.

Detailed explanation-5: -There are two types of life insurance: term and permanent. Term insurance covers you only for a specified time period-10, 20 or 30 years, for example. Permanent insurance is as it sounds-coverage that remains in place until you die.