Whole vs Term

Do you have the right insurance for this stage of your life?

Many people don't even know that their are different kinds of life insurance. And if a person doesn't know the different options how are they able to make an educated decision on what will be the best fit for them?  Being sure my clients are informed and educated is very important to me.  

99% of the policies I write are WHOLE LIFE policies.  Most of my clients are age 50 or older and a whole life policy is most often what makes sense for that time in their lives.  Here is a brief comparison of the 2 most common life insurances so you can decide which would be best for you.  

Whole Life Insurance

  • Permanent insurance that covers your whole life

  • Premiums never increase and coverage can never decrease

  • Builds cash value you can borrow against

  • Designed to pay for final expenses or to be an inheritance

Signing a Contract

Term Life Insurance

  • Temporary insurance that only covers you for a certain amount of years

  • Premiums increase at end of initial term 

  • Policy terminates at certain age 

  • No cash value

  • Designed for young families who have large bills (ex. mortgage)

Contract

This is by no means all the insurance options available but term and whole policies are by far the most common and widely used.