Before choosing a life insurance it would probably be a good idea to know the differences between different insurance policies, their rates and benefits.  Not all insurance companies and policies are likely to be the same and knowing what is available by different providers as well as knowing the different types of costs and benefits associated with insurance policies may be the deciding factor in getting you the right type of insurance you need.

Basically, there are two main types of life insurance (although there generally a lot of other types and policies that will likely need consideration as well); term and whole life insurance.  Term life insurance may be preferred by many because of the typically lower rates as in comparison to whole life insurance.  Term life insurance typically covers the insured for a specific time frame such 10, 15 or 20 years and as long the insured passes during this time frame the benefits are usually paid out to the beneficiary.  You may be able to renew your term life insurance policy when it expires as well.

Whole life insurance is usually much more expensive; however, it typically lasts for the duration of your life as long as the premiums are always kept up with.  Whole life insurance typically have more advantages as well including investment options and the ability to take out loans.

To find out which plan is best for you, you might want to use the internet to research whole life insurance quotes online to find the best whole life insurance rate available.