I'm trying to buy life insurance for myself and my mother. I read up on this survivorship insurance which sounded pretty good since I wanted something for my mother if I were do die first and vice versa. but most of the online quotes I saw were between spouses...
But I got confused when I read about accidental death ins- does this mean I will not be covered if I die of an illness or old age- but instead must die of an accident such as auto or slip and fall??
secondly, would I get taxed on the interest earned on the universal/whole ins or when the policy is paid out/ surrendered?
Orignal From: what is the difference between term/whole life insurance vs accidental death insurance?
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