Plentiful Policy Offerings
Our parents had a narrow choice of product offerings when it came to buying home insurance: term insurance for temporary needs and Whole Life for insurance needs that would persist as long as they lived. Technology and economic changes have allowed or encouraged the development of a much broader spectrum of policy types available to those who need home insurance.
Today’s sophisticated choices include Universal Life, Variable Universal Life, Variable Whole Life, Secondary Guarantee Universal Life, Equity Indexed Life, and Adjustable Life. And not only are such policies available to insure an individual, but they can also cover two or more qualified insureds. Post 5 includes an expanded explanation of these major policy types.
