6 Types of Life Insurance You Should Not Buy

According to money.usnews.com, you should never purchase a life insurance policy that is guaranteed to issue or related to accidental death. It should be pointed out that the article 4 Quadrants Relating to Insurance applies to both guaranteed issue life insurance and accidental death and dismemberment life insurance.  This can sometimes be purchased on late night television or online.

This article also talks about not purchasing whole life insurance or variable universal life insurance.  According to money.usnews.com, "And $100 buys a  heck of a lot more term life insurance than whole life.  In many cases, you can buy 10 times as much."

Here are the list of 6 types of life insurance you should never buy:

1. Guaranteed issue
2. Life insurance for children
3. Travel insurance
4. Accidental death and dismemberment
5. Whole life insurance
6. Variable universal life insurance

If you want to read more about whole life insurance, you may read 6 Deceitful Ways Whole Life Insurance Is Sold or you can search through the category of life insurance.

This post was reposted from http://finlit.biz/life-insurance/8-types-of-life-insurance-you-should-not-buy/, originally written on February 11th, 2013.