Whole life insurance provides lifetime coverage and builds cash value inside the policy from which you may be able to take out a loan at some point in the future.
Term life insurance provides short term life insurance usually for 30 years or less. There is no investment or cash value inside the policy.
Term life policies are usually offered for 10, 15, 20, or 30 years of coverage.
Term life usually costs 2-3 times less than whole life insurance since it is temporary.
Many people choose term life insurance because it allows then to buy a lot more life insurance for less money.
Learn more about Permanent life insurance vs term life insurance
Insurance without any Medical Exam,
Just a Few Health Questions.
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