What kind of life insurance do I need?

Deciding the best kind of life insurance policy to buy can be difficult if you don’t understand the different types that are available. Below we give a simple description of each type.


This is the least-expensive type of coverage, but only covers the applicant for a specified period of time. The applicant pays a premium for that period. If they die in that period, their beneficiary receives the full death benefit.

Term To Agelast sunset of 2012

This is a ‘term’ insurance policy, but rather than providing coverage for a specified number of years, these products cover you to a specified age which you select.

Term ROP (Return of Premium)

This type of policy is a ‘term’ product. You pay a higher premium then a conventional term policy, but at the end of the term you receive back 100% of the premiums you paid.

Universal Life

A universal life insurance policy, costs more than a term policy but allows you to maintain coverage for as long as you live, it is considered permanent coverage for life.

CoverYoo tries to simplify these questions as much as possible on our real-time quotes page.

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