Term Life Insurance

Whole life insurance

Whole life insurance

A permanent life insurance policy that builds a cash value as the premium is paid. It is guaranteed to pay the death benefit at the end of the insured’s life as long as the premium is paid up, or will pay the cash value to the policyholder when the policy is surrendered.

This insurance is more expensive than term life since it is a permanent policy. It also takes several years for the cash value portion of the policy to grow.

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