What are other life insurance coverages?
Insurance Variable Life: The policy values are not fixed, but determined by the performance of investments in the stock market. Group Life Insurance: Group life insurance is a form of term life that is sold to companies to cover their employees. Since many people are covered under one policy the cost per covered person is low and the diversity of ages and health situations can often lead to low underwriting costs. For the covered employee, group insurance is usually free or inexpensive, but since it is only in effect while working at that firm, there are risks to making it your only or main insurance. Group life insurance normally includes a provision for conversion to an individual insurance plan when the employee leaves the covered group. Credit Life: Through a connection with a life insurance firm, many lending institutions provide credit life insurance which can be purchased to pay off a debt in the event the debtor dies before the debt has been paid back. While this may be a conve