There are a wide range of life insurance products that are floating in the market. Choosing the right insurance policy involves assessing your particular situation and evaluating the right policy for you. It is imperative to choose the right life insurance that fits your bill or which can be customized to suit your particular needs.
I think my grandfather needs a term life insurance since term life insurance is purchased to cover a limited term period. Term life insurance is the easiest type of life insurance to understand. To put it simply, the insured person pays a minimal premium per thousand dollars of coverage on an annual, semi annual, quarterly or monthly basis. If he or she dies within the term of the policy, the life insurance company will pay the beneficiary the face value of the policy.