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Term life insurance vs. whole life insurance

Term insurance offers a more affordable alternative to whole life insurance or permanent life insurance. Buying term life insurance will help protect your young family or leave your spouse or business partner set in case you die first.

Term insurance vs. whole life insurance is a continual debate. Whether term life insurance or permanent life insurance is the best option depends on your circumstances. The best term life insurance has some distinct advantages including that it is cheaper than permanent life insurance. But term insurance only pays when you die unless you decide to sell it to a third party. In contrast permanent life insurance offers death benefits and a savings account that has a cash value. In a perfect world, whole life is the best choice if you can fit it into your budget. Term life insurance is much cheaper - and more realistic for most people.

Term life insurance is a good deal as you grow older because you can buy it for a set amount of time (5, 10, 15, 20, 25 or 30 years) with a guaranteed premium. When searching for term life insurance quotes, look for the lowest price for the most coverage from a company that is stable and has a strong track record. Make sure that your term life insurance policy has a generous conversion privilege, as this can be handy if you become uninsurable. For the best term life insurance policy, email me or call at 1.800.799.0903, and I will find the best price with top-rated term insurance companies.

This cheapest term life insurance is practical for people who do not need insurance throughout their lives. For example, a 20-year term life insurance policy is perfect for someone with small children who will be grown and on their own as the insurance expires. Also term insurance can be used to ensure your estate is protected for your heirs or your business continues on with your partners.

Finally, term life insurance rates have never been lower thanks to fierce competition in the life insurance sector, which means you'll get great coverage for a song. According to Consumer Reports Magazine, a term insurance policy providing $250,000 worth of protection cost $600 a year in 1991. That same term life insurance policy costs about $275 today.

Jim O'Connor, Life Insurance Agent
PO Box 832, Tiburon CA 94920
Tel: 1-800-799-0903   Fax: 415-435-2870   Email: info@term22.com
Copyright 2011 Jim O'Connor, Life Insurance Agent