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2011-02-03 19:51:47
2011-02-03 19:51:47

Whole life insurance is the most expensive type of life insurance. The advantages of a whole life insurance policy include guaranteed death benefits, guaranteed cash values, fixed annual premiums. The primary disadvantages of whole life are premium inflexibility,the internal rate of return in the policy may not be competitive with other savings alternatives, and the cash values are generally kept by the insurance company at the time of death.

Term life insurance provides life insurance coverage for a specified term of years in exchange for a specified premium. The policy does not accumulate cash value. A policy holder insures his life for a specified term. If he dies before that specified term is up, his estate or named beneficiary receives a payout. If he does not die before the term is up, he receives nothing.


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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 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 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.

The basic difference is that a term policy pays upon death or it expires when the term is reached. Whole life insurance gains value like an investment.

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.

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.

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.

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.

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.

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.

Depends on the type and length of the policies (yearly car policy vs. mortgage insurance vs. whole life).

There are a few variables that must be considered when purchasing life insurance. Some of these include the person's age, face value of the insurance, whole life vs term, and smoker or non-smoker. In Canada, a non-smoking 25 year old male can but 100,000. 20-year term life insurance through Manulife Financial for $12.12 per month.

The answer to that question is in the love you have for your family and the character that you do or do not have. Here is the question...Do you want to have life insurance in force when you die? Do you want to have insurance to pay for the burial, tombstone, cremation, all final expenses, left over medical bills, final ride in the ambulance, cemetery plot, perpetual care, probate, estate taxes, etc etc? All is well with term insurance if it is in force when you die, but like most people you don't know when you are going to die and usually it is after the term insurance has expired or you let it lapse because you can't afford it anymore or your future health prevents you from buying any more. I suggest to ALL my clients that they should have at least a burial policy as a minimum. Term insurance is pure profit for the insurance companies as only 2% of all policies ever pay a death claim. Think about it...AnswerUnderstanding the differences between whole life policy and term life policies will help you to see whether you would like to purchase both kinds of policies for your specific situation. Whole life insurance suits the person who has expenses that do not diminish over time such as estate taxes, etc. Whole life insurance can also work as an investment. There is cash value attached to whole life insurance after a certain number of years, which the owner can avail of in times of need.In comparison, term life insurance offers no cash value. And once the term is over you do not get any refund on your premiums, unless you opt for a ROP term policy.Term vs. Whole Life Insurance may help you grasp the features of both these policies.

Term life insurance is beneficial in several ways: 1. Flexible - offering terms of coverage for 10, 15, 20, or 30 years. 2. Affordable - permanent life insurance may cost 2-3 times more than term life insurance. 3. Easy-to-Understand - Term life is temporary life insurance for 1-30 years. If you outlive your policy term, your life insurance coverage ends, It builds no cash value, it is pure protection. Usually provides the maximum amount of life insurance at the lowest price. Term life policies are usually more popular because of the low premiums and high insurance coverage. In terms of being "beneficial" it all depends on the individual. Many people choose term life policies simply as a means of protection against the death of an earning member. This kind of policy helps to offset loans, mortgages, or ensure a college fund for kids, etc. through high death benefits. For many people, whole life policies are far too expensive, and thus a term policy suits their needs in their current situation. A helpful guide is Term vs. Whole Life Insurance.

There is no cash surrender value since the policy pays only on death. Source:

One of the best strategies is to ask a local insurance agent. If you drive a vehicle in the United States, you probably have car insurance. If you're a homeowner, you may even have homeowner's insurance. The agents who generated these policies (car insurance and homeowner's) insurance should be knowledgeable about term and permanent life insurance. If they can't help, they'll most likely be able to point you to an agent who can.

Term insurance Vs. Cash Value insurance is and always has been a debate and will continue. The short of it is, if you have a family or financial responsibilities to protect, than Life Insurance is the answer. While Term is the equivalent to renting a house and Cash Value is the equivalent of buying the house, then Term is not worth it and in fact is a pure money maker for the insurance company. But if you cannot afford to buy the house than you must rent. A really good insurance plan would include a base of some form of Whole Life to cover final expenses and all the cost associated with dieing and supplement all the rest with term insurance. One of the nice benefits of today's policies is that many of them offer money back riders that you can opt in on and get all your premiums refunded back to you at the end of the term and it is tax free. It cost a little more but is often the equivalent of earning somewhere between 4%-6% interest on your money guaranteed.

They look at the individuals Health, smoking status, prescriptions, avocation, sports activities (racing kyaking, skydiving, etc), drug use, family history, amount of insurance requested vs. the need and more.

Teachers vs Students Student vs Student Student vs Students Student vs himself Student vs the whole school.

It varies from company to company on different amounts, your age, your health, your smoking status and other variables. Your best bet is to speak with a true "broker", talk about your particular situation and obtain a number of quotes vs the insurance company coverage and offerings. While one company quotes a lower price, the actual offer may be higher once you have applied so be careful. Don't forget to look into Waiver of Premum and Return of Premium.AnswerThe best rates for life insurance can only be found by shopping around for life insurance. Rates differ considerably from company to company and therefore the more you shop, the more likely you are to find the best policy at the most affordable price. Another crucial factor to consider is the financial integrity of the life insurance company. Choose a company with a good rating by A.M. Best.

Medicare HIB stands for Hospital Insurance Benefits (vs. SMIB, or Supplemental Medical Insurance Benefits).

There are many sites online that compare insurance rates. Every major insurance company will offer a tool on their website that will allow you to compare their rates vs other insurance companies.

it is in the movie Arceus and the Jewel of Life.

The conflicts are: Man vs man Man vs self Man vs society

Gravitational Pull vs. the Desire for an Aquatic Life was created in 1996.

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