Term Life & Whole Life Insurance: What is the Difference?

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PostPosted: Sat Feb 23, 2013 4:01 pm   Post subject:   

Term life insurance is one of the best plan provide by insurance companies
Term life insurance is neither good nor bad. As a result it is not possible to say it is the "best plan" (or even one of the best).

Each situation is unique, and, in the long run, term life insurance could be THE WORST decision a person could make about the type of life insurance to purchase today.

Work with an experienced local agent who will interview you and understand your situation and both your immediate and long-term needs, and who will make the appropriate recommendations for you and explain why he/she believes that to be the case. It could be term, whole life, one of several forms of fixed universal life, or a variable policy. It could even be a combination of two or more of them in some cases.

And the very best agent might have to say to you, "What you need, I can't help you with today." Sometimes good agents who should say those words to you don't. Instead, they sell you something else today so they can be paid a commission. That's unfortunate.

There is no ONE RIGHT ANSWER to the question "Should I get term or cash value life insurance." Even Primerica agents, who only market term life insurance, sometimes get this wrong, too, and they won't say, "What you need is . . . ."


CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
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