Which is better whole life or term life insurance?
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 is the disadvantage of whole life insurance?
What is the downside of whole life insurance? Compared to a term life policy, a whole life policy is more expensive and complex, in part because it's designed to provide a death benefit that lasts a lifetime.
Is whole life insurance the same as term life insurance?
Term life insurance is cheaper because it only lasts for a limited time. Your beneficiaries will not get any money if you live beyond the end of your term. Whole life insurance is more expensive because it lasts for your whole life and has a cash value that earns a guaranteed return on cash value.
[PDF] Term vs Whole Life Insurance – Which is best for you?
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[PDF] What is whole life insurance? - Ohio National Financial Services
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[PDF] Whole-Life Insurance - VTechWorks
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[PDF] Permanent/Whole Life
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