When it comes to the debate of term life vs whole life insurance, we realize that people have different wants and needs. Here at Low Cost Life Insurance, we recommend that our clients consider a term life insurance policy. This type of policy will often be able to help families most effectively manage their finances.
However, what’s more important is that you have some form of life insurance. The best policy is one that will fit your specific lifestyle. In the 2013 Annual Insurance Barometer Study from LIFE and LIMRA, Americans were polled on their thoughts regarding the importance of life insurance. 85% of those surveyed said that they feel most people need life insurance, but only 62% indicated that they currently have a policy! According to Marvin H. Feldman, president and CEO of the LIFE Foundation, “Life insurance has never been as inexpensive or easy to buy – especially with the anticipated growth of online and nontraditional purchasing channels – yet, millions of consumers continue to put off the decision.”
Are you considering term life vs whole life insurance? Take a look at the following infographic below for some more insights into the importance of life insurance. There are pros and cons to what each kind of policy can offer you. When it comes to your family’s financial future, and your health, it’s always a better idea to get started sooner rather than later!
Life Insurance Breakdown: Term Life vs Whole Life Insurance
Still have questions when it comes to choosing a life insurance policy? E-mail our team and we’ll be happy to help!
SOURCE: Fidelity Life
