Term Versus Whole Life Insurance

Youre sure to encounter different and confusing policies and phrases such as whole life term life cash value and variable life. What is a term insurance policy and how does it work.

Permanent Life Insurance

This is because the term life policy has no cash value until you or your spouse passes away.

Term versus whole life insurance. And nowhere is the confusion more apparent than in the discussion of term life vs. Whole life insurance costs more because it lasts a lifetime and does have cash value. Term although the word term is a common phrase among insurance professionals many people are confused about the concepts of term versus whole life insurance.

Term life insurance is cheap because its temporary and has no cash value. A whole life insurance policy will last longer. Term life insurance plans are much more affordable than whole life insurance.

Life insurance provides important financial benefits but navigating the landscape of its terms and implications can be tricky. Term insurance is the clear winner. Some companies offer 30 year terms if you are under age 50.

What are the benefits of term life insurance vs. Term vs whole life insurance. How to compare term life and whole life side by side.

As explained above you cannot escape learning the difference between term vs whole life insurance policies. Now that you have a better picture of the difference between term and whole life policies you probably want to compare term life versus whole life insurance costs. In the simplest of terms its not worth anything unless one of you were to die during the course of the term.

That means term and whole life insurance are two generic types of insurance protection for you. Compare cost and policy features. Simply put a term policy provides coverage for a set number of years.

Whole vs term life insurance. When considering which type of life insurance you should purchase understanding the basics benefits and realities of both term and whole life insurance is important in making a decision that is best for you. Life insurance can be confusing.

Which is best for you. Heres a quick guide to the pros and cons of term and whole life insurance. If you watch tv youre likely to see a lot of commercials for whole life insurance.

Now lets see how these two plans stack up against each other. Its no competition term will be two or three times cheaper than any type of permanent coverage.

Cheap Term Life Insurance Versus Permanent Life Insurance Page