provides more flexibility and is more affordable for young
families generally with lower salaries, who are raising children,
or who are just beginning to pay off high ticket items like
college loans or mortgage payments.
term life policy does have its drawbacks, however, especially
when compared to whole life's added advantage of offering
cash value for the policy. Like
buying a house, whole life allows the insured to build up
equity over time, and at a fixed premium for the life of the
policy. With term life, there's no cash value option available,
and once your policy term expires your rates are likely to
purchasing a policy, be sure to ask about rates - will premiums
stay the same over the length of the term, or increase annually?
Will you have to re-qualify for the policy each time it expires?
about other options including the possibility of a conversion
to a permanent policy later (or, comparing another real estate
Web, find out more about the basics of term life, its benefits
and disadvantages, along with tips and advice on finding an
affordable term life insurance policy that fits your budget...
Basics of Term Life Insurance - Detailed intro to
the subject from Insurance.com with a discussion on what it
is, how to qualify, and a comparison between term and whole
life, and the cash value debate.
Life Insurance - A great newbie guide for young families
from BabyCenter.com explaining the advantages and disadvantages,
typical costs, an overview of the various types of term life
policies, related rate comparison info.
Life Insurance - The 5-Minute Guide - Online brochure
in PDF Acrobat format with facts on how much coverage you're
likely to need, different policies to fit your budget, pros
and cons, comparisons to whole life insurance, and contact
info from People's.com.