If you're shopping for a life insurance plan you may have heard about term insurance and whole life insurance, and wondered what is the difference?

Well, there are several important differences about the two basic types of life insurance: Term and Whole Life:

• Price
  
• Duration of Coverage
  
• Cash Value
  

To start, term life costs a lot less than whole life insurance because it is temporary, lasting for 30 years or less. Usually, whole life may cost up to 2-3 times more than the same amount of term life in...
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There are a few basic types of term life insurance policies.

The most popular type is level term life insurance. Then there's decreasing term life which isn't sold by many insurers anymore.

And, there's return of premium term life insurance which returns almost all of the premiums you paid for your life insurance if you outlive the term (duration) of your term life insurance policy. 

Level term offers you rates that remain the same each year for the term of your policy, while your amount of life...
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