What is the difference between Whole and Term Life Insurance?
Term life insurance lasts for a set period of time. Whole life insurance offers lifetime coverage otherwise called permanent insurance.
How does it work?
A term police is a life contract issued for varying time frames. Can be anywhere from 5-30 years. If the insured passes away during the contract term, the beneficiary receives the death benefit.
Whole life is a permanent life insurance policy that does not expire if you pay your premiums. It is designed to cover you your entire lifetime.
What works for me?
Life insurance can be complex. Each persons needs can be different. It is important to sit down with a licensed insurance agent to review your options.
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