Whole life insurance explained.
Why is it that people still prefer to own whole life insurance even though term life costs so much less?
The question that people should really be asking is..."is term life really cheaper?"
You really put out a lot less for term insurance and if you died within the term period you had made the correct decision when you bought term.
The question is what if you don't die in that term period? Had you
settled for a smaller amount of whole life insurance you would have some
money to get back.
People buy whole life simply because they get something back if they don't die. You can also keep whole life for as long as you live but term only lasts for a specific number of years.
Go to this page where you will find whole life insurance explained in more detail.
Speak with a Licensed Agent:
Do you really need term insurance? There are other options, so, is term life insurance for you? Some people are convinced there are no other choices.
Is life insurance something we always think about or do we simply take care of it and move on with our lives?
As the name implies, permanent life insurance is insurance for a lifetime. The death benefit will be paid upon the death of the insured. This type of insurance can never be taken away from you.