Describe the distinguishing features between term life, universal life, adjustable life and variable life insurance.

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Term life insurance - In this type of insurance, the insured pays a premium for a set term and at the end of the term , the policy also ceases. If the insured passes away in between the end of the tenure, the sum insured is given to the beneficiaries.

Universal life - Universal life insurance offers the insured to pay flexible premiums and includes a minimum premium payment failing which the policy will expire. It also has a cash value attached to it.

Adjustable life - It is a combination of term life and universal life insurance. In this the tenure of the life insurance can be adjusted and premiums are flexible. It is also a permanent life insurance which covers so as long as the premiums are paid. It also has a cash option attached.

Variable life insurance - It is similar to a universal fund with an exception that the insured is free to invest the cash value in various securities ,stocks and mutual funds.

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Describe the distinguishing features between term life, universal life, adjustable life and variable life insurance.

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