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Term Life vs Whole Life Insurance
Term Life <vs> Whole Life Insurance
There is a lot of confusion about the difference between Term Life Insurance and Whole Life Insurance, and here is a little information to help you understand the differences between these two well-known insurance policies.
The Basics of Whole Life Insurance
A whole life insurance policy is arranged to cover you for your "whole life" instead of for only a period of years. Your insurance premiums will be a little higher each month, but you may pay less overall because every time you renew a term policy, your rates will likely go up.
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Which Policy is Best For You?
That decision is one only you can make. At OutlookLife and InstantLifeQuotes, our counselors are trained to help- you make that decision based on your needs and financial plans. We encourage you to speak with a counselor before making any decision regarding Term Life Insurance vs Whole Life insurance.
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The Basics of Term Life Insurance
Basically, a term life insurance policy has seen a growth in popularity because of its extremely low cost. It is a no-frills policy, very simple and with no added bells and whistles. All you need to do is decide on the length of time you want the policy for and the coverage amount.
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