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Life insurance facts for kids

Kids Encyclopedia Facts

Life insurance is money for your family to use to pay your bills and death expenses when you die. A person must be healthy to purchase a life insurance policy. The amount of life insurance needed depends on the person’s family’s needs when they die. Some things to consider when purchasing a life insurance policy are, marital status, number of dependents, (wife, kids etc.) family size, income, and wealth. Life insurance has different types of policies.

Types of life insurance:-

  • Term life insurance
  • Whole life insurance
  • Universal life insurance
  • Indexed universal life insurance
  • Variable life insurance
  • Variable universal life insurance
  • Final expense insurance
  • Group life insurance

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Life insurance Facts for Kids. Kiddle Encyclopedia.