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What's the Difference between Term Life Insurance and Whole Life Insurance?

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If you simply do not consider buying life insurance policy, or have already decided to buy a life insurance policy, it is very important to know the difference between life insurance policies in general and life insurance. Knowing these differences will help you choose the best insurance policy for life.

The most recognizable difference between term life insurance policies and whole life insurance policy that is life insurance policy covering several years, while the entire life insurance that will cover for a lifetime. If you're looking for a life insurance only for a certain period of time, life insurance, probably the best bet. However, if you want to be insured for the rest of your life, you should buy a life insurance policy in general.

Another difference between term life insurance policies and whole life insurance policy is that life insurance policies offer a cash value of deferred tax is levied. It acts as an investment. Some people are interested in investment opportunities within its life insurance policies, so it decided to buy a life insurance policy. However, if you use other methods of investment, life insurance, probably the best for you.

The difference between a third term life insurance policies and whole life insurance policies is the difference in price. Life insurance is usually cheaper than whole life insurance policies, but all life insurance policies often offer fixed annual contributions, so you do not have to worry about its increasing rate if their health begins to deteriorate. Most insurance companies under the mandate to raise their premiums based on the current state of his health and age.

Therefore, the ideal start with the search for life insurance policy, to take these differences into account and decide which policy is best for you.



1 comments:
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fewmoney said...
August 15, 2008 at 9:11 AM  

Although it's only a little bit explanation about life insurance, but it's good enough to make people see the difference.. Thanks..

arthur
(fewmoney.blogspot.com)

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