I do not have any doubt in considering the term life insurance as the simplest form of life insurance. The main objective behind term life insurance is to provide insurance for a limited budget, and for a limited period of time.

A Health Savings Account is a modern method for health insurance that was made available on January 1st, 2004. The HSA is divided into two parts, a qualified plan for high deductable health insurance and secondly an individual tax-exempt trust.