Is Term Life Insurance The Best Value For The Money?
Posted July 25, 2009 – 4:32 am in: term life insuranceGenerally, Yes.
Whole life is essentially a combination of Life Insurance and an Investment plan in one package. The rates of return ( due to higher costs) are usually lower than a similar investment without the insurance. So you could very likely get separate term insurance and a separate investment and do better.
One exception is the case where you do not meet the health requirements for the best term policies. The underwriting guidelines may be looser for the whole life policies. Some companies may also offer a plan where you start at one rating and are automatically upgrated to a better rate after some period of time (i.e. 2 years)
One Comment
Absolutly, I got a term life for 225 dollars a year that is good for 30 years and pays $400,000 if I die. That’s a good deal. Get it in your 20s if you can!