Is whole life insurance better than term life insurance? If you need insurance quotes, understand the difference between whole life and term life.
Did you know the wrong kind of life insurance does more damage to your financial plans than just about any other financial product today?
Let’s look at the 2 most common types of life insurance:
Term Life Insurance
Whole Life Insurance
Term life policies offer death benefits only. If you die during the policy, your beneficiary gets the money.
If you live past the length of the policy, your beneficiary gets not money.
Whole life policies offer death benefits and cash value so that if you live, you get back at least some of, and often much more than, the amount you spent on your premium.
You get this money back either by cashing in the insurance policy or by borrowing against it.
If you plan to keep the policy for 10 years or less, then term insurance is the right type of life insurance policy for your needs.
If you plan on keeping your policy for 20 years or more, then whole life insurance is a better life insurance option.
Where can you get life insurance quotes? You can get life insurance quotes online with many different companies or you can call your local agents.
You may not know what the best life insurance policies are for your needs so pick up the phone let us give the information you need.