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Answered 2009-05-06 10:42:51

If you are left to make a choice between term life and insurance and whole life insurance, it comes down to how much you are willing and able to pay for your premiums and how much coverage you are looking for. If you can afford to pay a higher premium for your entire life, a whole life policy is the one for you as it also brings with it a cash value along with the death benefits. If you have a young growing family and want to protect it from hardship after your death, a term life policy comes highly recommended. The death benefits can be used to pay for funeral expenses, mortgage bills, education loans and help maintain your family's standard of living even in your absence. But whatever you choose at the end of the day depending on your individual requirements, ensure that buying a policy - any type - is non-negotiable.

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Can you cancel insurance?

What kind of insurance? Life? Yes, you can simply stop paying. If it is a cash value policy you can surrender it.


Which type of insurance dose not build a cash value for the in sured?

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Does your policy have cash value?

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What is the best description of term insurance?

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What kind of health insurance do Supreme Court justices have?

Rubbish health insurance, you should check out NHS!


What can Life insurance can be used to pay off?

If you mean, can you use an insurance policy itself to pay for something, that would be unusual, although you can make any kind of deal that you want, if the other party agrees. Some kinds of insurance policies have cash value and can be cashed in even while the insured person is still alive; these are called "whole life" policies, as distinct from term policies. Cash it in, then spend the cash, however you like. Otherwise, the insurance policy will eventually pay a death benefit. That may, of course, be too late to be useful to you, especially if you are the insured. You can't spend money after you die.


Is life insurance an investment?

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What kind of questions and answers can be found on the Term Life Insurance FAQ?

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What is the different between whole life and flexible universal policy?

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What kind of service does Swinton insurance UK offer?

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