I'm a 29 year old single mother of 4 young children.
I was wondering should I get whole life insurance or term life insurance?
I don't know which one is the better choice at my age.
Based on your age and family size, you may want to consider buying a 20 year level term life insurance policy.
Level term life insurance is the most affordable and most popular type of term life insurance because it offers the most life insurance coverage for your money, and it guarantees your rate for life insurance will stay the same each year throughout the duration (20 years) of your life insurance policy.
Compared to whole life insurance, you could buy a lot more life insurance coverage with a term life policy.
Whole life insurance costs more because it provides lifetime coverage, and may build up some cash value inside the policy over time.
Whereas term life insurance is pure life insurance protection, not an investment, With term life you pay for life insurance and that's what you get - life insurance protection.
A term life insurance plan offers you the option of choosing coverage for a specific period of time, such as, 10, 15, 20, 25 or 30 years.
Term life can make sure you have the protection your family needs for up to 30 years, until they are grown up and on their own.
Learn more about how term life insurance works and compare instant quotes today.
I was wondering should I get whole life insurance or term life insurance?
I don't know which one is the better choice at my age.
Based on your age and family size, you may want to consider buying a 20 year level term life insurance policy.
Level term life insurance is the most affordable and most popular type of term life insurance because it offers the most life insurance coverage for your money, and it guarantees your rate for life insurance will stay the same each year throughout the duration (20 years) of your life insurance policy.
Compared to whole life insurance, you could buy a lot more life insurance coverage with a term life policy.
Whole life insurance costs more because it provides lifetime coverage, and may build up some cash value inside the policy over time.
Whereas term life insurance is pure life insurance protection, not an investment, With term life you pay for life insurance and that's what you get - life insurance protection.
A term life insurance plan offers you the option of choosing coverage for a specific period of time, such as, 10, 15, 20, 25 or 30 years.
Term life can make sure you have the protection your family needs for up to 30 years, until they are grown up and on their own.
Learn more about how term life insurance works and compare instant quotes today.
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