Whole Life vs Term Life
Whole Life Insurance
- Provides lifelong coverage
- Includes a savings component (cash value), which grows over time (tax-deferred)
Appropriate for: Funding permanent expenses, like funeral costs, leaving a financial legacy, or supporting dependents after you pass
Term Life Insurance
- Pays a death benefit if you die within a certain period of time (the “term”) – usually 10, 20, or 30 years
- Always cheaper for the same amount of coverage
Appropriate for: Funding temporary expenses, like childchare, paying off a mortgage, supplementing retirement income, or paying for college
Schedule A Call
To learn more about any of these policies or to apply, please schedule a call.