There are a few benefits of term life insurance over whole life insurance, including:
1. Term life costs a lot less than whole life insurance which means you can afford to buy more life insurance.
2. Term life offers the flexibility if choosing how long you have life insurance coverage from 10, 15, 20 or 30 years of protection.
3. Term life is easy to understand, you pay premiums for the coverage for a certain period of time, if you die during the term, your beneficiary receives a death benefit.
Level term life insurance is the most popular type of life insurance because it's affordable, and it provides guaranteed level rates and coverage for the duration of your policy term, up to 30 years.
Many people choose to buy a term life insurance policy for their shorter term life insurance needs, and a whole life insurance policy to provide for their funeral and final expenses.
Learn more about
how term life works.
