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What is life insurance and its types?

This is a very interesting question from Insurance subject

This question was addressed to me in an online interview.

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The correct answer by me is: There are two major types of life insurance—term and whole life. Whole life is sometimes called permanent life insurance, and it encompasses several subcategories, including traditional whole life, universal life, variable life and variable universal life.

The title of my answer is What are the principal types of life insurance? | III

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