When exploring life insurance options, the average consumer is presented with a bewildering array of companies and product choices. Breaking things down to simple life insurance basics can be a daunting task. One of the first decisions that an individual must make is the choice between whole life insurance and term life insurance. And while a term life insurance quote can be significantly cheaper than a whole life insurance quote, it is not always the preferred option for many people.
So the question would arise–why would a person prefer a whole life policy over a term life policy? The answer can often be found in the fact that people are looking for a lifelong plan of coverage as well as an investment / savings vehicle. Provided that an individual pays on his insurance throughout his life, he is covered at time of death with a whole life plan. Protecting your … Read More