Term Life Insurance Is Not Always The Best Option
Posted by: The Key Man, in Term Life Insurance, Universal Life InsuranceI was recently discussing term life insurance with a friend. He had mentioned to me that he just purchased a universal life insurance policy. I thought that was interesting and asked him why. He said that he didn’t really need life insurance (doesn’t have a family, kids, or too much debt), but that he wanted to use the life insurance policy as an investing vehicle. Many people may not know, but there are certain life insurance policies where you can borrow against the money or cash value within the policy. It’s all very interesting. If you have questions about this type of policy and whether or not it would be a good thing for you, give the folks at Wholesale Insurance a call. They’re very good at answering questions and steering people towards the most appropriate type of life insurance for each situation.
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May 20th, 2008 at 10:06 am
Yes, there are definitely times when it may be better to consider whole life insurance, instead of term life.
It depends on your goals for the life insurance, how much you need, how long you need coverage, what you can afford, and what will meet your needs, and fit your budget.
You may want to review this helpful article explaining term life insurance vs permanent life insurance to better understand your options and how both types of life insurance work.