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Term Life Insurance |
Whole Life Insurance |
| What is it? |
Term life insurance provides protection for a specified period of time (e.g., 5, 10, 15, 20, or 30 years) at a lower initial cost. |
Whole life insurance provides protection for your entire lifetime and accumulates a cash value that the policy owner can borrow against. |
| Who should consider this coverage? |
- Want to protect your family from financial hardship in the event of your death
- You are underinsured and want to supplement your coverage
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- Have a long-term need for life insurance
- Want to accumulate cash value to borrow against to provide funds for education, retirement or other future goals
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| What are the benefits? |
- Lower initial cost than whole life insurance
- No medical exam required in most cases
- Independent from employment and/or pension plans. You own it.
- 100 percent money-back offer
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- Premiums do not increase with age
- Builds cash value
- Independent from employment and/or pension plans. You own it.
- 100 percent money-back offer
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| What are the considerations? |
- Does not build cash value
- Coverage ends when policy expires
- Premiums may increase with age
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- Initially higher premiums than term coverage
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| What are the next steps? |
Learn more about our term coverage products |
Learn more about our whole life coverage products |
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