Term insurance

Life Whole life insurance

• Period of protection is temporary • Lifetime protection

• ‫ةناتاات‬Convertible • Generic name for a cash-value policy
• Called ordinary life insurance if premiums are payable
throughout the lifetime of the insured and limited
payment life insurance if the premium period is less
than the insured’s lifetime
Yearly ble
renewa ghjhhh Variable Life Insurance
• Issued for a one-year period .
•jnjkbjbjjbknkklklkkjbjkkjjbkbknkjkjn • Similar to a mutual fund ma‫تىىىىىىىىىىنللغعغعل‬intained by the insurer.
• The death benefit and cash surrender values will increase or decrease
with the investment experience of the separate account.
5-,10-,15-,20-,25-,or 30-year term
Universal
• Unbundling of protection L‫نىتنننننننننننن‬
and saving component ife
• The premiums paid during the term period are level, but they increase
Insurance
• Two forms of universal life insurance
when the policy is renewed.
• Considerable flexibility
Term to age 65 • Cash withdrawals permitted
• Favorable income-tax treatment
• Provides protection to age 65, at which time the policyexpires
can converted to a permanent plan of insuranc‫تنتالتااالتاتارتفاارتتالنتالن‬e, but the
decision to convert must be exercised before age 65.
Indexediversal life insurance
Decreasing term • Minimum interest rate guarantee.
• The face amount gradually declines each • Additional interest may be credited to the ‫ نتتتتتهخههااه‬and there is a
year.‫نهتخته‬
Reentry term formula for determining it.
• Renewal premiums are based on select (lower) mortality rates if the • Provide more complete disclosure than policies not federally regulated.
insured can periodically demonstrate acceptable evidence of insurability. ‫نتااااعتتن‬
Variable Universal Life Insurance
• Product that returns the premiums at the end of the term period, • Sold as investments or tax shelters.
Endowment insurance
provided the insurance is still in force.