The earliest known type of life insurance was the burial benefits that Greek and Roman religious societies provided for their members. Neither these religious societies nor any pre-modern systems for paying death benefits employed actuarial calculations. Th

Group life insurance is provided by employers to their employees. The employer purchases group life insurance as a benefit to cover their employees and their dependents. Group life insurance is an excellent benefit for employees. With group life insurance policies, employees are required to pay a minimum cost to the program. Every state has different requirements as to the amount the employees must give. The employer pays for the remainder of the cost. Group life insurance allows employees to have life insurance coverage that they might otherwise not be able to afford. The employees are then given the protection and security they deserve at a lesser cost. Many group life insurance policies are available without having to provide medical history. In addition to giving their employees a great benefit, employers can also deduct the tax from the premiums they pay. The great benefit encourages employees to stay with their employer.

Whole-life insurance provides for the payment of the face amount of the policy on the death of the insured, whenever it might occur. Premium payments are made during the entire lifetime of the insured person. By definition, it has a fixed premium and a level death benefit to age 100. The premiums don't increase with age, which averages the cost of the policy over your life. The cash value increases with time until it equals the death benefit at age 100. This type of policy never has to be renewed or converted. The cash value is an amount of money th

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