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Answered 2013-06-23 06:03:49

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 combined with a type of investment policy that allows you to borrow against it during the span of the policy because it is constantly increasing in value.

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The key difference between life insurance and whole life insurance is that regular life insurance carries a fixed term while whole life insurance covers one's entire lifetime. Whole life insurance also accumulates a cash value that one can borrow money against.


A life insurance is only good for life coverage, when you die an amount of money is given. Whole life insurance includes investments you have. Such as stock market.


Whole life insurance is less flexible then universal life insurance when it comes to premiums and payouts.


The difference between term life insurance and whole life insurance is that a term policy covers the insured for a "term of years" whereas a whole insurance policy covers the insured for the entire life period.


A term life insurance is during the insurer's life only. When he or she is gone, then the insurance ends. The whole life insurance on the other hand has what the term life insurance covers plus more.


The difference between whole and life term insurance is that a term policy is life insurance only whereas the whole insurance combines a term policy and a investment component so one can build cash value and borrow against it.


When deciding what type of life insurance to get, someone can choose between term and whole life insurance. Term insurance pays out when a person dies and whole life can be cashed in if you need the money early.


Term life insurance is an insurance that is set for a specific time period, for example, one can obtain term life insurance for 30 years. Whole life insurance covers one from application to death.


Term life is insurance is only valid for the given period of time within the policy as whole life insurance coverage is for the entire duration of ones life.


Life insurance is a more general concept that may refer to either whole life insurance or term life insurance. Whole life insurance gathers value the longer you have it, whereas Term life insurance does not obtain any value that you may use before you die. Term life insurance only pays out when you die.


The basic difference between long term life insurance and whole life insurance is that a term policy is life coverage only and this is also considered an advantage. One can buy a long term life insurance for periods of one year to 30 years, whereas whole life insurance is a combination of a term policy with an investment component.


You can call a whole life insurance policy as a "Non-Endowment Life Insurance Policy".


Term life insurance is only life coverage. When the person who is insured dies, the beneficiary receives the amount of the policy. Whole life insurance is a term life policy combined with an investment. This policy builds value.


Term life insurance if only for the life of the coverage holder, once deceased the amount is paid to the beneficiary. Permanent life insurance, known as whole life insurance, combines term life insurance with an investment option.


There are man yfactors that go into the rates for insurance, but term life insurance is generally cheaper because it only stays valid for the amount of time stated within the policuy, but as whole life insurance is good for ones whole life you will generally have it paid off after 10 to 20 years.


There are many places where one can compare term life insurance versus whole life insurance. One can compare term life insurance versus whole life insurance at popular on the web sources such as Wealth Pilgrim and MSN Money.


Only whole life insurance,not term life.


One can get term or whole life insurance through various insurance agencies. Some insurance companies that provide term or whole life insurance include MetLife, AAA, and State Farm.


Whole life insurance provides lifetime protection and builds cash value within the policy. As long as you pay your premiums on time, your life insurance remains in effect. Term life insurance provides temporary protection for a specific number of years, usually 1-30 years. If you outlive your policy, the life insurance coverage expires. Term life insurance is less expensive than whole life insurance in most cases. Whole Life (WL) is considered "permanent" insurance; that is, it is intended to be kept for one's entire life. WL also builds "cash value", which may be borrowed or used to pay premiums . Term (T) is a non-cash value type of coverage, which runs for a term of time e.g. 10, 20 or 30 years. At the end of the policy term, the contract terminates, and coverage ends. Whole life insurance will cover you for your whole life, or up to the age of 100. Term life will cover you only for a specified term - 10, 15, 20 or 30 years. Whole life insurance is more expensive than term life insurance. This is because whole life insurance also acts as an investment and will accrue cash value over the years. These can be utilized by the policy owner whenever needs arise. In contrast, term life policies do not carry any cash/surrender value. If the policy holder survives the term, there are no returns on premiums paid, unless it is a ROP term policy. You can learn more about the differences between the two policies at Term vs. Whole Life Insurance.


New York Life if one reputable company which offers whole life insurance. You can apply and receive quotes for whole life insurance policies online or by contacting a representative.


One of the best companies to approach to have whole life Insurance explained is Swinton Insurance. They have offices in many locations and are experts in all aspects of whole life Insurance. Alternatively you could contact Sainsburys or Tesco's who both deal in whole life insurance.


Whole life insurance varies from term life insurance because it is valid for the insured's entire life instead of just for a specified amount of time. Whole life insurance typically has premiums due each year.


One can find an explanation of whole life insurance at virtually any life insurance company's website or at their company's location. Examples of whole life insurance companies are MetLife, Geico, and Farmers.



Generally there are 3 types of of life insurance policies:Whole Life InsuranceTerm Life InsuranceUniversal Life Insurance



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