Term life insurance, also known as pure life insurance, is life insurance that guarantees payment of a stated death benefit during a specified term. Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the policy to terminate.
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Final expense insurance (funeral and burial insurances) designed to cover the bills that your loved ones will face after your death. These costs will include medical bills and funeral expenses.
Indexed universal life (IUL) allows the owner to allocate cash value amounts to either a fixed account or an equity index account. Policies offer a variety of well-known indexes such as the S&P 500 or the Nasdaq 100. IUL policies offer tax-deferred cash accumulation for retirement while maintaining a death benefit.