Friday, May 17, 2013

What is the difference between Term and Whole Life Insurance?

                                                       Term Life Insurance                     Whole Life Insurance


  • Term life insurance gives you protection for a specified period of time only and at an affordable cost.
  • Whole life insurance gives you protection for your entire life and also will accumulate a cash value that the policy owner can borrow against.
This option is right for you if you.....
  • Want reassurance that your family will have the needed cash in the event of your death.
  • Want to supplement your current coverage.
  • Want a lifetime policy.
  • Want an investment as well as life insurance.
What are the benefits to consider?
  • More affordable
  • No extensive medical checks.
  • Premiums do not increase over time.
  • Able to borrow against.

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