answersLogoWhite

0


Best Answer

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.

User Avatar

Wiki User

โˆ™ 2013-08-07 06:04:03
This answer is:
User Avatar
Study guides

A defined contribution plan is part of which employee benefit

Which of these is an element of limited payment life insurance

What is the best description of a defined contribution plan

Which technology tool allows people to download a television show to watch at a later time

โžก๏ธ
See all cards
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
No Reviews

Add your answer:

Earn +20 pts
Q: What is the difference between life insurance and term life insurance?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

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

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.


What is the difference between Endowment Life Insurance and Term Life Insurance?

And endowment life insurance policy can be cashed out after a certain length of time or earlier for an agreed upon value. Term life insurance only provides coverage for a specified term and disappears if the covered person does not pass within the term.


what are the advantages of long term life insurance vs whole life insurance?

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.


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

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.


What is the difference between renewable term insurance and regular term insurance?

Renewable term allows you to renew at the end of the term. Regular term insurance does not guarantee you that right.


What is the difference between a term life insurance and an universal life insurance?

A term life insurance policy is a basic protection that covers expenses in case of an accidental death, it will sometimes cover debilitating injuries, but only briefly. A universal insurance policy covers a wider category and can sometimes be cashed in.


Where can one get information on term life insurance?

You can get some good information on Term life insurance at the online Wikipedia. They give information on the Usage, annual renewable term, level term life insurance, payout likelihood and cost difference's, and references.


What kind of life insurance should you get?

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.


What is the difference between life insurance premium and non life insurance premium?

An insurance premium is the amount of money paid on a periodic basis for insurance of a given kind. The kind of insurance involved does not alter the definition of the term "premium". Therefore, a life insurance premium is an incremental amount paid for life insurance, and a non-life insurance premium is an incremental amount paid for another kind of insurance.


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

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.


What is the differenc between term and whole life insurance coverage?

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.


Does Prudential Life Insurance offer term life?

Prudential Life Insurance offers several different type of life insurance, including term life insurance. They offer complete term insurance or supplemental term insurance that can be added on top of any other insurance you may have.

People also asked

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

View results

Does Prudential Life Insurance offer term life?

View results

What companies offer the cheapest term life insurance in the US?

View results

What does CIS life insurance provide?

View results

Which life insurance co took over Superior life life insurance company in Philadelphia?

View results

What products does Prudential life insurance offer?

View results