The other type of policy is bought from an investment perspective.
These can be called by different names like Universal, Permanent or Whole Life insurance.
Death is the only thing that is certain in this world.
Since we live in a society, the first thought that comes to our mind is how to protect those who are dependent on us.
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In most cases, the dependents include the spouse, children, and parents.The objective of this limitation is to prevent misuse of the policy and give insurance cover only to the deserving parties.Types of insurance policies Though there are many types of life insurance policies available on the market, most of them can be broadly classified into two categories.Life insurance is about providing protection to the dependents.At the same time, it also provides peace of mind to the living person.