2What are the different types of policies available?
One possibility is to get a group policy which is offered by your employer as part of your employee benefits. These policies tend to be term life insurance policies, which means it’s only good during a specified time (in this case probably the time in which you’re employed). Because this is part of a group, the cost can be less and will be deducted directly from your wages. If your employer offers this, then this could be a less expensive way to be covered.
Then there is an individual policy. In this case you or a family member will be the owner of the policy. This gives you more flexibility in changing the policy, or taking it with you should you change employers. You can also change a term policy into a permanent one with an individual policy.