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Whole life insurance Vs term life insurance?

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Whole life insurance Vs term life insurance?
Whole life insurance is the most expensive type of life insurance. The advantages of a whole life insurance policy include guaranteed death benefits, guaranteed cash values, fixed annual premiums. The primary disadvantages of whole life are premium inflexibility,the internal rate of return in the policy may not be competitive with other savings alternatives, and the cash values are generally kept by the insurance company at the time of death.

Term life insurance provides life insurance coverage for a specified term of years in exchange for a specified premium. The policy does not accumulate cash value. A policy holder insures his life for a specified term. If he dies before that specified term is up, his estate or named beneficiary receives a payout. If he does not die before the term is up, he receives nothing.
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Changing term life insurance to whole life insurance are there age restrictions?

Answer   No, but the older you are, the higher the premiums.   You may want to look at the life insurance policy terms and conditions section that refers to "Conversio

What is the difference between whole life and term life insurance?

Term insurance can be thought of as "pure protection" in the sense  that it provides only a death benefit, and then, only if the  insured dies for a reason that is not exclu
Which is better whole life or term insurance?

Which is better whole life or term insurance?

It is not really a question of "better", as it is of "different".   Term insurance may be thought of as "pure protection" in the sense that it provides coverage on ones li

How do term life insurance and whole life insurance differ?

Term is strictly protection. Whole life is protection plus cash value. Cash value is similar a to a savings account within the policy. Part of the periodic premium goes to pay

What are the benefits of whole vs term life insurance?

A term policy is life coverage only and on the death of the insured it pays the face amount of the policy to the beneficiary. Whole life insurance combines a term policy with

What is the difference between whole life insurance and term life insurance?

Whole life 1) Whole Life is a form of permanent insurance. Permanent insurance comes in a variety of forms, e.g., universal, variable universal, equity-indexed, etc. All have

What are the differences between term or whole life insurance?

Term Life insurance is a type of policy used for a set amount and a predetermined number of years that is paid out during one's lifetime. Whole life insurance is term combine

What is the definition of the term 'whole life insurance'?

A whole life insurance provides coverage for an individual's whole life. A savings components which builds overtime and can be used for wealth accumulation. Whole life is the

What is the difference between term life and whole life insurance?

Term life is temporary coverage for a period of time that you choose based on your needs (mortgage paid off, kids finish college, retirement, etc) for 10, 15, 20, or 30 years.

What is term and whole life insurance?

Term insurance is written for a specific period of time or until an age certain (the term). It may be for 1 year, 5 years, 10 years or it may be until age 60, 65, 70, etc. At