The two basic types of life insurance are term life insurance and whole life insurance.
Term life is short term life insurance coverage for a period of up to 30 years, or until you reach age 65 or 70, usually.
Whole life insurance provides lifetime coverage.
Term life insurance is pure life insurance protection, not an investment, and does not build cash value inside the policy. You pay only for life insurance.
Whole life insurance may build up cash value inside the policy over time from which you may take a loan in the future.
Term life insurance costs a lot less than whole life insurance which means you can afford to buy a lot more life insurance for your money.
Level term life insurance is the most popular type of term life coverage which provides level premiums and coverage amount throughout the term of your term life policy. So, each year you ay the same premium and have the same amount of life insurance coverage while your policy lasts.
Here's how you can learn more about whole versus term life insurance.
Term life is short term life insurance coverage for a period of up to 30 years, or until you reach age 65 or 70, usually.
Whole life insurance provides lifetime coverage.
Term life insurance is pure life insurance protection, not an investment, and does not build cash value inside the policy. You pay only for life insurance.
Whole life insurance may build up cash value inside the policy over time from which you may take a loan in the future.
Term life insurance costs a lot less than whole life insurance which means you can afford to buy a lot more life insurance for your money.
Level term life insurance is the most popular type of term life coverage which provides level premiums and coverage amount throughout the term of your term life policy. So, each year you ay the same premium and have the same amount of life insurance coverage while your policy lasts.
Here's how you can learn more about whole versus term life insurance.
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