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:
“He’s one of those know-it-all types that, if you flatter the wig off him, he chatter like a goony bird at mating time.”
—Michael Blankfort. Lewis Milestone. Johnson (Reginald Gardner)
“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)
“Our major universities are now stuck with an army of pedestrian, toadying careerists, Fifties types who wave around Sixties banners to conceal their record of ruthless, beaverlike tunneling to the top.”
—Camille Paglia (b. 1947)