One of the smartest investments you can make on this side of life will not be a likely return for you, but your loved ones. This financial investment is known as life insurance. Of course, you can purchase insurance options that will allow you some return on the premium; the plan setup is yours to decide. In fact, a company that sells Life Insurance in Humble TX offers a 20 year life insurance policy with a return of premium. There are many policies available for the shopping consumer. Here are listed a few of these policies.
* A Whole Life policy is a type of coverage that combines life insurance with investment options. Part of the policy’s premium pays a certain amount at your demise while the remaining amount is invested in the insurance company’s portfolio, offering you cash value return on your part of the investment. The beautiful thing about this policy is that you can borrow against the cash value of the policy tax free.
* A Universal Life policy combines term insurance with a money market type investment. These offer higher returns on investments at the market rate, but for the higher dollar return, there is no guarantee of a given rate.
* Another type of policy is known as the Variable Life policy in which a permanent policy is tied to a stock or bond-based investment fund. The risks are greater with this type of policy, as there are no guarantees.
* The last type of policy is the traditional Term Life. Term Life is simple, you pay for a certain amount of insurance you want for a given period of time.
