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Term Life Vs Whole Life Insurance - What's The Difference? Term life vs. Whole life insurance is a very popular subject when it comes to life insurance. A term policy is a policy that is allotted for a certain period of time, or term, and then paid out if necessary. The policy can be renewed if necessary before it comes to term, but if you let it lapse, you will usually lose most or all of the money that you paid in to the policy. A whole life policy is generally started when you are young, and appreciates in value over time. The face value is what the policy is worth after a certain time (usually 100 years), and the cash value, or how much you'll actually get, is what you've paid in over time. As you pay into a whole life policy, the premiums will increase with age. However, you can find average plans that will allow you to pay the same premium for your entire life, if you can afford to pay higher premiums to begin with. Term life vs. Whole life insurance is basically the difference between having a life policy for 5, 10, or 20 years or having a life policy from the time that you are young until you die without having to renew it or worry about policy lapses. When it comes to the benefits of term life vs. Whole life insurance, there are many different things to consider. What is beneficial to one person might not be beneficial to the next, and so on. In order to choose the right policy, you will need to consider how much insurance you need, what you can afford to spend, and where you are at financially and age-wise in your life. Older people will fare better with term policies, while younger ones might find more advantages to the whole life policy. It's all a matter of personal choice, so you need to understand your options to make the best decision. If you are having trouble choosing between term life vs. Whole life insurance, can always talk to an insurance agent to figure out which option will be best for your situation. Whatever you decide you need to make sure that you do not jump into life insurance unprepared because you could likely wind up getting the wrong policy, the wrong amount of coverage, or simply choosing something that is not effective based on your needs... Over 50 life insurance

Term Life Vs Whole Life Insurance - What's The Difference_  

face value is what the policy is worth after a certain time (usually 100 years), and the cash value, or

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