Difference Between Term Life and Whole Life?

What is the difference between term life insurance and whole life insurance?

Life insurance offers two basic types of coverage – Term and Whole Life.

Term life is for short term life insurance needs of 30 years or less.

Whole whole life insurance is for your entire lifetime needs for life insurance coverage.

Term life costs the less, offers more life insurance for your money and is easy to understand.

Whole life insurance costs a lot more, builds cash value inside the policy over time from which you may talk a loan, and provides you with guaranteed lifetime protection.

Some people choose to buy term life insurance for their shorter term needs, and a whole life policy for their final expenses.

That way, you get the life insurance protection you need at the lowest cost.

Learn more about the difference between term life and whole life.

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