What is difference between health insurance and term life insurance

The term insurance is the life insurance that helps your family members in case of your unfortunate death. On the other hand, the health insurance assures financial compensation of your medical bills in case of critical illness and prolonged hospitalization.

What is difference between health insurance and life insurance?

As mentioned above, health insurance tend to your medical expenses while you are still alive while the life insurance helps your family financially in case of your untimely demise.

Which insurance is better term or life?

If you only need life insurance for a relatively short period of time (such as only when you have minor children to raise), term may be better as the premiums are more affordable. If you need permanent coverage that lasts your entire life, whole life is likely preferred.

What are the disadvantages of term life insurance?

While term is often the cheapest form of life insurance, there are some negatives to buying coverage. The policy doesn't build cash value, has no surrender amount if you cancel, and, if you have to renew, your premium is adjusted based on your current age and health, which can mean much higher rates.