5 types of senior life insurance
The term life insurance with no health assessment might be comparatively costlier than the ones with medical underwriting.
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An insurance plan is the one that consists of a premium amount and other components used in getting a product insured. There may be various types of insurance plans with varying terms and policies.
The rest of the premium payment will go toward your policy's cash value. The life insurance company generally invests this money in a conservative-yield investment. As you continue to pay premiums on the policy and earn more interest, the cash value grows over the years.