All About Standard Life Insurance
Often you'll find that the basic, and most simplified standard insurance is your best option. It's been the mainstay of life insurance and you'll probably find that it offers the best and most convenient riders, premiums, benefits. The phrase has been so closely associated with quality and reliability that "Standard Life Insurance" makes up the name of some of the oldest and most reliable life insurance companies in the U.S.
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As you look into your standard life insurance options, you'll find a variety of options. The basics include two types of life insurance: Temporary and Permanent.
Temporary Insurance
Temporary Insurance includes the term life insurance that remains in effect for a specified time at a specified rate (or premium). Temporary insurance is for individuals who are not sure about making a long-term investment in a life insurance policy, but still want the security of coverage in the unlikely event of their death. There are many types of temporary insurance, but the best offer you guaranteed rates that won't change from year to year and guaranteed coverage from year-to-year, regardless of any arising health conditions (these are known as annual renewable term life insurance policies).
Permanent Insurance
Permanent Insurance includes whole life, universal life, and endowment life insurance. These types of insurance allow a more permanent type of coverage that builds cash value as time goes on. These policies cannot be cancelled by the insurer unless the insurer can prove fraud in the application. These types of policies, especially the universal life insurance policy and endowment are popular for estate planning, because it helps shield the high taxes associated with inheritances.