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 are several places where a person could get more information on whole life term insurance. Websites such as Metlife and Prudential have information about whole life term insurance.
The best place to find out information about whole life insurance versus term life insurance is from Suze Orman. She has books to read, a show to watch, and an internet page to browse questions and information on.
Try going to this website: www.budgetlife.com/ to find information on best term insurance.Also Budget Life serves term life insurance and whole life insurance consumers with online life insurance rates from top rated companies.
For impartial advice on term life versus whole life insurance, a site called smart money offers lots of information on this. If you would prefer face to face advice book in with your local CAB as you know they will not be trying to sell you a product but advise you on what is the best path for you.
Whole Life
The basic difference between term and whole life insurance is this: A term policy is life coverage only. On the death of the insured it pays the face amount of the policy to the named beneficiary. You can buy term for periods of one year to 30 years. Whole life insurance, on the other hand, combines a term policy with an investment component. The investment could be in bonds and money-market instruments or stocks. The policy builds cash value that you can borrow against. The three most common types of whole life insurance are traditional whole life policies, universal and variable. With both whole life and term, you can lock in the same monthly payment over the life of the policy.
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.
There are a lot of life insurance companies. The site http://www.life-insurance-companies.com/ will give you the top 15 sites. There is term life and whole life also and you need to decide which type you want and then go from there.
Cost. Other than that, there are no advantages. Whole life insurance lasts your whole life. It pays upon your death a predetermined amount. Once the designated term on term life expires, you have no more life insurance. Term will be significantly cheaper depending on your age.
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.
Many insurance companies offer a way to compare whole life insurance rates. They also offers comparisons for term life insurance rates as well. Nationwide even offers a feature that will help someone decide how much life insurance coverage might be needed.
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.