Although there are many different kinds of life insurance, they can be grouped into two main categories of life insurance: without-profit and with-profit. Without-profit life insurance policies do not offer any kind of cash payout to the client until their death. With-profit life insurance policies offer clients investment accounts and the clients have access to policy funds if they require it. Without-profit policies are subcategorised into term, whole life and credit life policies. Term life insurance policies, like regular short-term insurance policies, only insure individuals for a pre-determined time. "Level term" and "decreasing term" insurance policies are the options available when buying a term life insurance policy. Credit life insurance policies are similar and will repay the covered debts of the insured upon their death. Whole life insurance has a fixed premium for the duration of the insured's life and pays out a fixed benefit to beneficiaries when the policyholder dies. With-profit life insurance currently only offers one life insurance option: universal life insurance. Universal life insurance allows policy holders to withdraw some funds from an investment account, based on a number of calculations.