I found a good post on a question that seems to confuse many people who are looking for life insurance: Term vs Whole Life vs Universal Life
I don't want to repeat the whole article, but it gives a basic outline of the three popular forms of life insurance, and which group of people might benefit the most from choosing one over the other.
Whole Life: Permanant - basically for people who want life insurance that does not expire, and that also builds a cash value. Costs more.
Term Life: Temporary from 1 to 30 years years generally. For people with a set limit of time that they need more coverage. I.e. a family to support or a mortgage.
Universal Life: Also an investment vehicle. Also Permanant Life insurance
Term Vs. Whole Life vs Universal Life Insurance
Saturday, October 06, 2007
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