Whole Life PolicyThis policy covers the whole life of the insured person. The assured amount is payable only after the death of such comparatively lower and are paid throughout life for a specific period. This policy is useful to provide protection to the family. It is also named a straight life policy.Term PolicyThis is the oldest type of policy which is issued for a fixed period of time. If the assured person dies within the specified period the insurance company has to … [Read more...] about Types of Life Assurance Policy