What type of insurance policy covers the entire family under a single contract?

The Family Policy is designed to cover the entire family under a single contract, making it an efficient option for managing insurance needs. This type of policy typically provides life insurance coverage for the primary insured and allows coverage for additional family members, such as spouses and children, without needing separate policies for each individual.

When families choose a Family Policy, they benefit from consolidated premiums and easier management of benefits, which can be particularly advantageous for those with multiple dependents. This approach not only simplifies the administration of the policy but also often offers cost-saving benefits compared to purchasing individual policies for each family member individually.

In contrast, Individual Policies are tailored for single insured individuals and do not cover others. Joint Policies are generally structured to cover two individuals, often spouses, but still do not provide comprehensive family coverage. Dependent Policies tend to be more specific and may only cover dependents in relation to a primary policyholder, lacking the comprehensive nature of a family policy.