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LIFE POLICIES
Types
Term vs. Whole
Individual
Business
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LIFE POLICIES ~ TERM VS WHOLE
Q. What is the difference between “term” and “whole life” insurance?
A. Term life provides death benefit only for a low cost in the early years. It gets very expensive as time goes on. Only 2% of term policies ever pay a death benefit because most people drop them when the cost goes up. It is excellent for short-term coverage.
Whole life provides lifetime coverage. The premiums are more expensive in the early years, but you get level cost, a cash value buildup in a tax friendly environment, low cost loans, and lifetime coverage. This can be an excellent long-term solution.
Please email our life specialists for what's best for you at life@thedoveagency.com.
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