Question #54 in 100 Insurance Questions in 100 Days Video Series There are three primary kinds of life insurance. Term, Universal, and Whole. Whole Life is sometimes referred to as General Life. It does as its name suggests, it stays with the insured until death. Unlike term, which can be outlived, whole life will remain. The premium can be paid all at once, over 20-years, or every year until death. It also has a cash value component. See this brief video for more information on this New York State insurance product.