Buying a life insurance plan has gotten a lot simpler than it was before. But at the same time, the life insurance industry has gotten a lot more confusing for someone who simply wants to buy the right kind of protection for their family. Apart from deciding what to buy, it has become increasingly difficult to understand the lingo around life insurance. As someone who is possibly looking to buy a new policy, all of this information can overwhelm and confuse you.
Due to this confusion, many people simply buy the first policy they find. While any kind of life coverage is a good thing to have, one should always aim to have the type of life insurance that is better suited to their needs. Two such types of insurance are whole life insurance and universal life insurance.
What is whole life insurance?
If you are looking for the simplest …