What Are The Two Basic Types Of Life Insurance Policies? 
The two basic types of life insurance policies are Term and Permanent . Term insurance does not have cash value and is for temporary needs , because the coverage will end or have a big price increase at the end of the term . Permanent Life insurance comes in Whole or Universal Life . Permanent Insurance can be purchased to provide coverage for your whole life . There are many different features to Permanent coverage so it is important to discuss this type of insurance with a reputable agent before making your choice . 