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Life insurance policy options are greater with some insurance company statistically changes when taking into account whether or not they are measured by either premium income or by their assets the traditional life insurance policy isn’t the primary focus of many of the businesses that are in the life and health insurance industry.

Life Insurance Company Product Focus

In contrast to the past the focus today has shifted more towards annuity underwriting. Annuities are basically contracts that will accumulate funds or they can pay out a variable or a fixed stream of income. This is another option to the life insurance policy. A stream of income can be chosen to be received for a fixed time period or can alternatively be chosen for a lifetime payout of the contract holder and his/her beneficiaries.

Nonetheless, all of the more traditional life insurance products like the term life, universal life, etc… for the individuals as well as the group life products still remain an important part to the business. The same goes for both health insurance and disability income.

The life insurance companies will primarily invest their money into corporate bonds but will also put a significant amount of attention into corporate equities as well. In addition to the life insurance products and the annuities the life insurance companies may also offer some other types of financial services. One such example of these services would be that of asset management.

Premiums by Line

When you measure it by the premiums written you’ll find that annuities are actually the largest product line of the life and health insurance companies. The life insurance policies are able to be sold on either an individual or they can be sold to groups like employees and associations.

Accident and health insurance is going to include:

• Medical expenses
• Disability income
• Long term care

Other lines are going to include:

• Credit life
• Industrial life

The credit life is going to pay off the remainder of a loan should the borrower either die or somehow become disabled. The industrial life is a small policy that the premiums are most often collected weekly.

Credit Life Insurance

This type of life insurance is a type of a decreasing term life that will protect creditors like banks. What will happen is the borrower is going to be responsible for the premium which will most generally be an element of the credit transaction. The reason for this type of policy is so that the loan that is outstanding will be paid off should the borrower die before the loan is paid.

What will happen is the policies face value is going to decrease as the loan itself is paid off until both have reached the magic number of zero. If the loan is paid off earlier the premiums for the remainder of the term will be returned to the policyholder.

The credit accident and health, which is a similar product, will provide income for the borrower on a monthly basis should he/she end up disabled.