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Whole Life Insurance vs Term Ins.

Whole Life vs Term Insurance. Which one to choose? Which is better whole life or term insurance? That is a popular question, and the most asked question that I receive in the insurance business. I serve the entire state of Florida and New York. People ask me all of the time, and the answer depend on your goals, outlook, budget, and needs.

Whole Life Insurance in short is a Cash Value Based Life Insurance Product. You get a guaranteed death benefit along with a cash value that builds. The cash value can be borrowed at attractive rates during times of need. Whole Life Insurance is a permanent life insurance, in the fact it does not expire. Also the premium levels are the same yearly.

Term Life Insurance is cheaper than whole life insurance, usually much cheaper. There is no cash value in the policy and premiums increase yearly. The premiums are usually cheaper early in the term, and more expensive as you grow older. Many term insurance policies come with a level premium level for a set amount of years. This has become a very popular option.

So deciding if Term Life Insurance or Whole Life Insurance is better depends on what are your goals, level of income, needs, etc. For example, do you have a limited budget, young children, and you want to protect them till they are in college? Then term Life Insurance might be the right life insurance for you.

Do you have an estate to protect? Want to avoid estate taxes in the future? Want to have life insurance that lasts forever? To pass to your children after death? Then whole Life insurance might be the best option for you.

Best thing to do is call us, we will help you decide. We are the best in the insurance business in both Florida and New York. We work in all areas of Florida: Miami, Ft Lauderdale, Palm Beach, Daytona, Orlando, Tampa, Sarasota, Punta Gorda, Naples, etc. In New York: New York City, NYC, NY, Manhattan, Queens, Brooklyn, Bronx, Staten Island, Westchester, Long Island for example.

We are experts in Whole Life Insurance or Term Life Insurance. We will help you compare both, and see which ones are right for you.

941-916-3580

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