Life insurance comes in the form of many different policies coupled with countless different life insurance companies. Life insurance usually includes the individual paying a premium to the life insurance company and is categorized within two different parts including protection policies and investment policies. The reality with life insurance is that it is deemed to be of an important peace-of-mind treaty to have on hand if necessary. Life insurance comes in the form of many different types including Term Insurance, which is life insurance for a specific term or time period. Term Insurance includes the face amount, the premium to be paid, and the length of coverage, which is the term. Another type of life insurance is permanent life insurance. Permanent life insurance is life insurance that is active until the policy matures, but is null and void if the premium is not paid. Permanent life insurance cannot be cancelled unless fraud is considered to have occurred on the policy itself. Permanent life insurance includes whole life, universal life, limited pay, and endowment. The last type of life insurance is accidental death insurance. Accidental death is based on if the individual receiving the policy dies due to an accident that could include an injury and other accidents, but do not include suicides or health problems. The most inexpensive life insurance policies are accidental death life insurance policies and they very rarely pay a benefit. Accidental life insurance is also referred to as accidental death and dismemberment insurance or AD&D. Other aspects related to life insurance include group life insurance which covers a group of people like employees within a company or members of an association; as well as senior and preneed products. Preneed life insurance policies are geared towards seniors and older individuals which are of limited payment premiums. The preneed life insurance policies usually cover things such as funeral expenses.