What Are The Different Types Of Life Insurance Policies? 
As Ed Harris said above there are MANY different types of Life Insurance . It is true that there are two basic ` categories ' , which are Term and Permanent , but within those categories there are many different solutions or types of life insurance . For instance , Credit Life is a form of Term insurance which insures a creditor against the death of the debtor . Term insurance is basically `` death insurance '' . It has no cash value and no `` living benefits '' unless it has an ` accelerated benefit rider ' , which pays out or `` accelerates '' a portion of the death benefit in the case of critical or chronic illness . The ` Permanent ' category includes ` Universal ' and Whole Life - which is the only truly permanent type of life insurance . Within these categories there are many types again . There are buy-sell agreements and Key-Man policies designed specifically for businesses . There are variable and indexed policies , which are tied to the stock market or to specific stock indexes . There are `` participating '' and `` non-participating '' policies , which refers to the paying of dividends into the cash value of policies . There are Individual , First to die and Last to die policies . For more information contact an experienced Insurance Adviser / Broker . If in Hawaii I will be happy to help you . 