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Universal life insurance is a type of policy where a person is allowed to choose a premium and the benefit. It allows a person to opt for a long-term/permanent protection with a lower premium. More »

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Whole life insurance plans come with a guaranteed accumulation of cash value and unchanging premiums, whereas universal plans include customizable death benefits, savings and premiums. Whole life insurance offers protect... More »

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Universal life insurance and whole life insurance are both forms of permanent life insurance, but there are several differences between the two types. Universal life insurance is more flexible, notes Investopedia. This m... More »

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A life insurance beneficiary is a person or party named in a life insurance policy to get the death benefit, according to the Insurance Information Institute. Policyholders can designate one or more people as beneficiari... More »

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A term life insurance policy is a straight-forward product where a person pays monthly premiums in exchange for a guaranteed death benefit. It is called a "term" policy because it covers the insured person for a certain ... More »

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The terms and conditions of life insurance vary depending on the life insurance policy and the type of life insurance, according to HowStuffWorks. Life insurance is either term or permanent, and can be paid monthly, quar... More »

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In the event that a person passes on and the life insurance policy goes missing, there are several ways to look for the policy, which include searching through the documents and personal belongings of the deceased, check... More »

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