Should I Get Whole Life Insurance or Term Life Insurance?

March 8 2008 by fashun in Term Life Insurance |Comments Off

Reader question:

When I compare Orlando FL life insurance rates, should I get whole life insurance or term?

Melissa

Good question, Melissa.

There are a bunch of differences between whole and term life insurance which you should figure out before you compare Orlando FL life insurance rates. One thing that you should keep in mind is that the term life insurance policies usually cost less and are more adaptable. The problem with them is that they may end while you are much older and still need life insurance, meaning that you will have to buy another term or whole life insurance policy for a much higher rate. Many policies nowadays have protections for this, and you can also protect your premium from rising as the years pass.

Whole life insurance isn’t too expensive either, so you may notice little different when you coimpare Orlando FL life insurance rates. One big thing is that with almost all whole life insurance policies you will pay the same right for the entire time you have them–that is, for your whole life. But, at the same time, the amount of your benefits won’t be able to go up either, even if circumstances change or you make more money.

take care,

Fashun

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