Inexpensive Life Insurance or Whole Term Life Insurance?
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Do you want inexpensive life insurance or do you want whole life insurance? You can’t have both. Inexpensive life insurance is usually term life insurance, which is life insurance that lasts for a specified amount of time, cannot be cashed in before death or at the end of the term, and does not earn any interest. It is what it is.
Whole term life insurance is lifelong life insurance if you want it to be. It is more expensive because of this and also because a part of your monthly premium goes into long term investment products to earn you money. The policy can be cashed in prior to death and many people use it as an extra retirement savings.
