When you own cash value life insurance, your premium payments are allocated three ways. First, a portion of each premium pays for the actual insurance costs. Like term insurance, a specific cost is associated with the policy’s death benefit, based on your age, health, and other underwriting criteria. Second, a portion pays for the insurance [...]
Archive for the ‘Whole Life Insurance’ Category
December 29th, 2009
Whole Life Insurance or Buy Term and Save the Difference?
“Do I buy term insurance and save the difference or do I buy whole life insurance?” That seems to be the million dollar question these days. This is a great question which I feel is of great importance. Let’s take a 40 year old male non-smoker in good health and compare the two scenarios over [...]