Is term life insurance better or whole life?
The answer depends on your own personal needs and situation.
Term life insurance may be a good idea if you are on a budget, need the most life insurance for your money, or need life insurance for 30 years or less.
Whole life insurance may be a good idea if you really need lifetime protection that will not end, or you want to build up cash value inside your policy over time, in addition to having life insurance.
Term life is temporary and provides pure life insurance protection, while whole life provides lifetime protection and builds cash value from which you may take a loan.
Whole life can cost a lot more than term life insurance, and term life policies may allow you to convert your life insurance into a whole life policy in the future.
Learn more about
whole life insurance versus term life insurance and compare the benefits or each.
