Whole life insurance
The other form of life insurance is what is typically known as an investment policy. While it holds all of the advantages of the protection (or term) policies, it adds an additional layer on top that some people find very beneficial.
The basic principle behind life insurance investment life insurance policies is that they offer a way to grow your capital over time, providing you yet another way to invest in yourself, your future, and the future security of your family and friends. You have to pay premiums in this scenario, but these premiums actually accumulate over time. They can be invested into various different investment vehicles and, over time, can actually add up to a significant sum of money life insurance.
Of course, there is always the chance that the securities you decide to invest in go downhill instead of uphill. That would leave you in a tough situation, having putting in life insurance a lot of money only to have the same or less at the time of death or illness life insurance.
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