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1.TERM INSURANCE
This is the simplest form of life insurance. It pays only if death occurs during the term of the policy, which is usually from one to 30 years. Most term policies have no other benefit provisions.There are two basic types of term life insurance policies—level term and decreasing term.Level term means that the death benefit stays the same throughout the duration of the policy. Decreasing term means that the death benefit drops, usually in one-year increments, over the course of the policy's term.

2.VARIABLE LIFE INSURANCE :This also offers a death benefit for the beneficiary just like the above one, but the amount of benefit is not fixed. The premiums are fixed. The funds in your account are invested in stocks, equity etc and depending on their returns, the benefit is either more or less. You can always borrow funds from your account during your lifetime.

3.UNIVERSAL LIFE INSURANCE : This is actually like a savings account. The company pays you a market interest rate on your accumulated cash. The death benefits are the same, but the amount of benefit depends on market rates, wjether you have ever bowowed from your account, etc. This also allows premium flexibility. You can also withdraw from the policy at which all the accumulated amount is paid up.

4.UNIVERSAL VARIABLE LIFE INSURANCE :This allows a lot of speculation on the policy holder's part. He can invest in stocks, mutual funds etc.. The better he is doing, the better is the gain. The benefit received on death depends on the investments and their returns made by the policy holder. you can withdraw funds at any time during the policy.

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