Types
There are several types of whole life insurance policies. New York State defines six traditional forms: non-participating (aka "non par"), participating, indeterminate premium, economic, limited pay, and single premium. A newer type is known generally as interest sensitive whole life. Other jurisdictions may classify them differently, and not all companies offer all types. There are as many types of insurance policies as can be written in their contracts while staying within the law's guidelines.
Read more about this topic: Whole Life Insurance
Famous quotes containing the word types:
“The bourgeoisie loves so-called “positive” types and novels with happy endings since they lull one into thinking that it is fine to simultaneously acquire capital and maintain one’s innocence, to be a beast and still be happy.”
—Anton Pavlovich Chekhov (1860–1904)
“He types his laboured column—weary drudge!
Senile fudge and solemn:
Spare, editor, to condemn
These dry leaves of his autumn.”
—Robertson Davies (b. 1913)
“The American man is a very simple and cheap mechanism. The American woman I find a complicated and expensive one. Contrasts of feminine types are possible. I am not absolutely sure that there is more than one American man.”
—Henry Brooks Adams (1838–1918)