Life insurance policies are designed to pay benefits (the amount of the policy) to the beneficiary upon the death of the policyholder. There are different types of life insurance policies available, and each type has its own advantages and disadvantages. To help with your decision, the following information will explain the difference between the two most common types of life insurance and the advantages and disadvantages of each.
Whole Life Insurance
People are different in more ways than there is space or time to list. For this reason, the insurance needs of each person are also varied, especially when it comes to life insurance. If you're considering the idea of selling your life insurance policy, just because it doesn't make sense for someone else does not mean it doesn't make sense for you. Learn some of the scenarios where selling the policy often makes sense.