No. Term life is your most economical type of life insurance. The salesman will tell you about the cash value of the whole life policy, but the rate of return is terribly low. Buy a term life policy and put your savings in an IRA, 401K, CD, money market account, Roth or other investment. That is what the insurance company would do with your money, so why not cut out the middleman.
The key difference between life insurance and whole life insurance is that regular life insurance carries a fixed term while whole life insurance covers one's entire lifetime. Whole life insurance also accumulates a cash value that one can borrow money against.
A whole life insurance provides coverage for an individual's whole life. A savings components which builds overtime and can be used for wealth accumulation. Whole life is the most basic form of cash value insurance.
There are many places where one can compare term life insurance versus whole life insurance. One can compare term life insurance versus whole life insurance at popular on the web sources such as Wealth Pilgrim and MSN Money.
One can get term or whole life insurance through various insurance agencies. Some insurance companies that provide term or whole life insurance include MetLife, AAA, and State Farm.
New York Life if one reputable company which offers whole life insurance. You can apply and receive quotes for whole life insurance policies online or by contacting a representative.
One of the best companies to approach to have whole life Insurance explained is Swinton Insurance. They have offices in many locations and are experts in all aspects of whole life Insurance. Alternatively you could contact Sainsburys or Tesco's who both deal in whole life insurance.
One can find an explanation of whole life insurance at virtually any life insurance company's website or at their company's location. Examples of whole life insurance companies are MetLife, Geico, and Farmers.
Whole life insurance varies from term life insurance because it is valid for the insured's entire life instead of just for a specified amount of time. Whole life insurance typically has premiums due each year.
The main types of life insurance are term life insurance, whole life insurance, and universal life insurance. Term life insurance provides coverage for a specific period, while whole life insurance offers coverage for your entire life. Universal life insurance combines a savings component with a death benefit.
whole life insurance
A life insurance is only good for life coverage, when you die an amount of money is given. Whole life insurance includes investments you have. Such as stock market.
The difference between term life insurance and whole life insurance is that a term policy covers the insured for a "term of years" whereas a whole insurance policy covers the insured for the entire life period.