What Is The Best Type Of Life Insurance To Buy? 
There is a diversity of life insurance products to fit multiple planning applications like indemnification , income and inheritance scenarios . Term and guaranteed universal insurance are generally indemnification and inheritance products to protect the policy beneficiaries from financial liabilities or benevolent giving of the policy insured . Participating whole life and current assumption universal life are conservative interest rate crediting policies for income scenarios . Other polices for income scenarios are Indexed universal life crediting earnings from indices , both domestic and foreign as well as variable universal life insurance which can credit from the guaranteed interest account or the separate sub accounts utilizing market equities and bond instruments . Product suitability , from a policy holder point of view , is determined by creating a financial profile that includes establishing product risk tolerance , economic goals and a reasonable timeline of life events based on life expectancy . 