Jun
10
10
There are different kinds of life insurance, there’s temporary, permanent, whole life and a lot more.
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As explained in Wikipedia.com , Temporary life insurance provides for life insurance coverage for a specified term of years for a specified premium. The policy does not accumulate cash value. While Permanent Life Insurance s life insurance that remains in force (in-line) until the policy matures (pays out), unless the owner fails to pay the premium when due (the policy expires). The policy cannot be canceled by the insurer for any reason except fraud in the application, and that cancellation must occur within a period of time defined by law (usually two years).