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Is Buying Term Life Insurance Online The Same As Buying It From An Agent?
When you purchase term life insurance online, it is exactly the same as if you went into an office and sat down with an agent. In fact many of the online life insurance companies will give you a free quote online, but you have to speak to an agent...Read More

Life Insurance - The Basics
Life insurance is purchased in order for you're dependents to be looked after financially in case of you're death. If you are single and have no dependents, it would probably be wise not to waste you're money on life insurance, and use it to...Read More

Term Verses Whole Life – When it Comes to Life Insurance it Pays
There has been an age old battle between the virtues of term life insurance verses whole life insurance. The proponents of term life insurance often lead with the argument that it would be better to buy term insurance and invest the difference. The...Read More

Understanding Life Insurance
Life insurance is something that can give those who have it a real peace of mind and a sense of financial security. If you are in the market for life insurance, you may have questions about it. Do you really need it? If you do need it, how much...Read More

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What's the Difference Between Whole and Term Life Insurance?

It's important to know the difference between whole verse life insurance before you start to shop.

Whole life (also called permanent) policies are insurance policies that accrue cash value over time and usually pay dividends. Buying a whole life policy is an investment. As the named insured, you have the ability to draw against the cash value. Whole policies are more flexible and more expensive than term policies.

Term life polices are less expensive and inflexible. Term policies are bought for a designated period of time. If the named insured dies before the policy expires, the benefits are paid. However, if the policy expires before the death of the insured, there are no return premiums. As the insured you have the option to renew the policy for another specified period of time, or let it expire.

The difference between whole life and term policies is similar to the difference in buying verses renting a house. A whole policy would be like buying a house. The purchase of a house is an investment. Usually the house appreciates in value. You can borrow against the growing equity in the house. When you decide to move, you sell the house and reap the financial rewards of the investment.

Renting, on the other hand, is like a term policy. You rent an apartment or house for a specific period of time (lease). You do not have the option to borrow against the equity. When the lease is up, you either renew the lease, or move. If you choose to move, you do not get a portion of the rent back.

Term policies do, however, allow you to upgrade to a permanent policy without the need for a physical exam (similar to renting a house with the option to buy). A change in your financial condition may allow you to afford a whole policy that was out of your financial reach a few years earlier.

View our Recommended Life Insurance Company, a simple site that has an easy to fill out application. It also has a lot of great info about Home Owners Insurance and Health Insurance

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Life insurance – what is it & how does it work? Life insurance is the simplest, most popular and cost effective way to financially protect any dependants in the event of your death. While it won’t help those left behind to get over their loss,...Read More

Life Insurance 101: Understanding Your Policy
What general provisions do life insurance policies have in common? In other words, what general framework do life insurance policies share? If this question means absolutely nothing to you, don't worry, you are not alone, but it does mean that...Read More

Opt for Life Insurance for Protection as Well as Wealth Creation
In today’s fast paced and ever changing world nothing is certain except for the fact that life becomes very easy to live if you happen to have money in your wallet. There is no certainty that you will wake up tomorrow when you go to sleep today....Read More

Reliable Life Insurance Company – Which Companies are the Best?
The life insurance industry is a carefully regulated industry. Every state has its own insurance department to monitor the activity of insurers. You very rarely hear of life insurance companies that dissolve because of financial problems. Insurance...Read More

Whole Life Insurance: A Part of Parenting?
Alright, purchasing a whole life insurance policy for your child isn’t exactly a requirement for good parenting, but the financial benefits of purchasing a whole life insurance policy for your child will not only benefit you regarding expenses in...Read More

The Best Kept Secret About Life Insurance
Do you love someone deeply enough to spend your hard earned dollars on a life insurance premium -- month after month? After all, the benefit from a life insurance policy isn't for you. It's for the ones you love, but after you've gone. Life...Read More

Your Life Insurance Could Be Worth More Than You Think
Many seniors own life insurance policies that they no longer need or want, or that they can no longer afford. Often, they allow their policies to lapse or cash them into the insurance company for the surrender value. What many seniors don’t...Read More

Advice For Choosing Your Life Insurance Payments
Although it’s a responsible choice, the choice to purchase a life insurance policy isn’t required. Other than not wanting to think about inevitable death, many people choose not to purchase a life insurance policy because they don’t want to take on...Read More

Life Insurance Comparison Precious Advice
When you are ready to purchase a life insurance policy, you are advised to make a life insurance comparison. You should ensure that you are getting the best possible life insurance at the best possible rates. There are different types of life...Read More

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