Which of the following are the two main types of life insurance?

The two main types of life insurance are indeed term life insurance and whole life insurance. Term life insurance provides coverage for a specific period, typically ranging from one to thirty years, and pays a death benefit only if the insured dies within that term. It is often more affordable because it does not accumulate cash value.

Whole life insurance, on the other hand, is a type of permanent life insurance that offers lifelong coverage, given that premiums are paid. In addition to providing a death benefit, whole life policies accumulate cash value over time, which can be borrowed against or withdrawn. This dual benefit makes whole life insurance appealing for those looking for long-term financial planning options.

The other options involve combinations or types that do not represent the primary categories of life insurance as clearly. Endowment policies, while relevant, are more niche products compared to the broader and more commonly understood term and whole life insurance categories.