Voluntary term life insurance plan is elective and generally paid by the employee, whereas group term life insurance is employer paid, and all employees are included.
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By size vs weight
A dyad is a group of two, a tetrad is a group of four; for a group of three you can use the term triad.
$150
it means that theres one peron vs. a group
it means that theres one peron vs. a group
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 an investment component usually used for retirement.
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.
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.
One can get information to decide about whole life versus term life by speaking to their broker of Life Insurance. Once can personally inform themselves by reading Smart Money or Money MSM.
There is no cash surrender value since the policy pays only on death. Source: http://www.my-life-insured.com/term-vs-whole.htm
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