Term Insurance VS Whole life
Karria Lawrence
Build stronger, more efficient teams through operational strategy, culture-driven growth, & strategic planning. Beyond business, I lead PGP, youth org. for trauma recovery, life skills, & opportunity exploration.
By Karria Lawrence
?As an insurance agent one of the many questions I receive is which is better Term or Whole life. To be honest it all depends on your needs, financial goals, and income. While no product can be no better than the other based on an individuals current financial situation. With term insurance it is best to purchase when you are young with adding additional benefits like being able to receive your every dollar you put into the policy unless you used it. Also, term insurance has also added featured benefits for home owners that allows a homeowner to have a peace of mind when it comes to unexpected health related problems that could cause them to forfeit on one of their biggest investments. Where as whole life or investment products like IULs or Annuities provide a way for you to build cash value in a policy. I will go into detail about the differences of them in another article, but these products have no end and if your insurance agents knows what they are doing price should remained leveled until you turn 100 years old.