Cost of term life vs. whole life Term life is often the most affordable life insurance because it’s temporary and has no cash value. Whole life premiums are much higher because the coverage typically lasts your lifetime, and the policy grows cash value. Here’s how annual premiums compare for term life policy vs. whole life.
Average annual life insurance rates for men, women are less
How to choose between term and whole life insurance - Most people have both Term life is sufficient for most families, but whole life and other forms of permanent coverage can be useful in certain situations. Choose term life if you: • Only want coverage for a specific period of time. A term
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