Which of the following are the two main types of life insurance?

The two main types of life insurance are term life insurance and whole life insurance. Term life insurance provides coverage for a specified period, typically ranging from one year to several decades, and pays a death benefit only if the insured passes away during that term. It is often selected for its affordability and straightforward nature, making it a common choice for those seeking pure life coverage without the investment component.

Whole life insurance, on the other hand, is a permanent life insurance policy that remains in effect for the insured's lifetime, provided premiums are paid. This type not only offers a death benefit but also includes a cash value component that accumulates over time, allowing the policyholder to borrow against it or withdraw from it under certain circumstances.

While other options mention various types of life insurance, such as universal life, variable life, and accidental death insurance, they do not represent the primary categories of life insurance. Universal life and variable life are indeed important forms of permanent insurance, but they are variations of the broader whole life insurance category. Accidental death insurance is not a main type of life insurance but rather a specific type of coverage that pays benefits based on accidental death. Thus, the identification of term and whole life insurance as the two main types is accurate and fundamental to