Many businesses opt for a Life Insurance policy to fund the purchase of these shares. Insurance Permanent plans including Universal Life, Whole Life and Adjustable Life are designed to give clients life insurance coverage that can last throughout the policy- holders life. Policyholders pay a higher premium in the first few years. Portions of the premiums being paid into the policy accumulate in an account earning tax-deferred interest. Term plans offer life insurance for a certain number of years.
Term insurance is typically less expensive than permanent coverage.
Although term insurance can initially be less expensive, it may not be the most economic choice in the long term. Every client has a different financial situation and financial need. The best insurance plan is the one that fits the need best. Inc. Copying or distributing contents is forbidden.