Whole life insurance Vs term life insurance?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

Whole life insurance is the most expensive type of life insurance. The advantages of a whole life insurance policy include guaranteed death benefits, guaranteed cash values, fixed annual premiums. The primary disadvantages of whole life are premium inflexibility,the internal rate of return in the policy may not be competitive with other savings alternatives, and the cash values are generally kept by the insurance company at the time of death.

Term life insurance provides life insurance coverage for a specified term of years in exchange for a specified premium. The policy does not accumulate cash value. A policy holder insures his life for a specified term. If he dies before that specified term is up, his estate or named beneficiary receives a payout. If he does not die before the term is up, he receives nothing.
9 people found this useful

How do term life insurance and whole life insurance differ?

Term is strictly protection. Whole life is protection plus cash value. Cash value is similar a to a savings account within the policy. Part of the periodic premium goes to pay

I have term life insurance should i also have whole life insurance?

The answer to that question is in the love you have for your family and the character that you do or do not have. Here is the question...Do you want to have life insurance in

Is my life insurance whole life or term?

Review your policy ... it has to be one or the other ... can't be both at the same time.

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

Term insurance can be thought of as "pure protection" in the sensethat it provides only a death benefit, and then, only if theinsured dies for a reason that is not excluded by

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

Term life is temporary coverage for a period of time that you choose based on your needs (mortgage paid off, kids finish college, retirement, etc) for 10, 15, 20, or 30 years.

Which is better whole life or term insurance?

It is not really a question of "better", as it is of "different". . Term insurance may be thought of as "pure protection" in the sense that it provides coverage on ones life

What is term and whole life insurance?

Term insurance is written for a specific period of time or until an age certain (the term). It may be for 1 year, 5 years, 10 years or it may be until age 60, 65, 70, etc. At

Where can one find information on term life vs whole life insurance?

For impartial advice on term life versus whole life insurance, a site called smart money offers lots of information on this. If you would prefer face to face advice book in w

What are the benefits of whole vs term life insurance?

A term policy is life coverage only and on the death of the insured it pays the face amount of the policy to the beneficiary. Whole life insurance combines a term policy with

Where can one learn about whole life vs term insurance?

The best place to find out information about whole life insurance versus term life insurance is from Suze Orman. She has books to read, a show to watch, and an internet page t
In Health

What is the meaning of the term whole life insurance?

Whole life insurance means the life insurance policy that: . normally covers an individual until his or her death, unless it lapses due to non-payment of premium or is cance