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Types of insurance - Coggle Diagram
Types of insurance
Life insurance
Term insurance
Pays a death benefit to your beneficiary only if you die during the term of an active policy until age 95
In most cases, death benefit and the right to convert to a permanent policy without proof of insurability are the primary features
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Permanent insurance
Pays a death benefit to your beneficiary regardless of when you die as long as the policy is in force
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Policy builds cash or loan value you can borrow against, withdraw, or invest
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