Do you know the difference between life insurance and life insurance?

There was a time when I, knew not the difference between life insurance and life insurance as well as most people. I thought they were one and the same thing! Since then I have come to realize that I am not the only one that has mistakenly thought this. Many people find confusing policy conditions and many policies can also seem that the same except for a few differences in the wording. But not fool you as this is not the case. There is a difference between life insurance and life insurance and you would be wise to learn the differences before you register this policy!

The reason why is confused, might you not your fault. There are many people in the insurance industry, which does not even know the difference, and so there is a lot of conflicting information is. In the last paragraph, I will explain why to get people confused. But let me first explain the differences between life and life insurance.
Life insurance
Life insurance is a policy, which is about you as your car insurance policy, is, as soon as the "runtime" or where you are insured, no longer fall and you all lose your money. The insurance pays money to your recipient if you die within the period or term you are insured. The term is agreed, if you the directive, and by you will be decided. You can decided insurance anywhere between 1-40 years of life. Life insurance is plan, as well as money in fact financial protection so that in the event of your death of your family pay a lump sum of money to all outstanding debt, and your bond for your grief and comfort. If you have no debts go the money to your beneficiary as heritage. The amount of money will be paid is increased in value and the same amount of money which you agreed when you took the insurance. There are many types of life insurance, but they work basically as follows.
Life insurance
Life insurance can be considered a mix of insurance and investment contracts. With life insurance you decide with how much insurance you want to remove and then pay your premiums each month. The amount you pay is then invested. And every year the insurance company adds a bonus to the guaranteed amount of money, which you as insurance from taken have. The value of the bonus depends on how well the investment company invests. If you die during the term the company pays off. However, if you are still alive, when the term ends, you will receive also the cash distribution.
The confusion comes because life insurance and life insurance cover have life. With whole life insurance, the policy-holder decides to cash in their policy returned the money to them in the exact amount.