Whole Life Versus Term Life Insurance - Term Life Insurance

Whole Life vs Term Life Insurance

Whole Life Insurance vs Term Life Insurance which one is best?

What is Whole Life Insurance?

Whole vs term lifeWhole Life insurance is a combination of life insurance with an investment component that adds up to creating a cash value that can be withdrawn later in life. While the life insurance part of a Whole Life policy is self explanatory, the added investment component has some variables.  You set when you would like to start taking the cash value payout of a Whole Life Insurance policy.  While the premiums for a Whole Life Insurance policy is typically higher than a Term Life Insurance policy, the higher premiums go towards the cash value (investment component).   Let’s say at age 63 you would still like to collect a paycheck without working.  You can set your Whole Life Insurance policy to payout a given amount at age 63.

What is Term Life Insurance?

whole vs term lifeTerm Life Insurance is an insurance policy that provides death benefits only.  Meaning this is for the love ones you leave behind.  The premiums are low compared to Whole Life Insurance because there is no investment component to a Term Life Insurance policy.  Term Life Insurance policy terms can vary, but some go up to 35 years.

Which Insurance is Better - Whole Life vs Term Life

The rule of thumb recommends your insurance policy cover 10x your annual income.  If you have other investments for your future then maybe a Term Life Insurance is best for you.  However, if you are self employed and looking to invest in your future a Whole Life Insurance policy can take care of two birds at once.  Here is a comparison of Whole Life vs Term Life in dollars and cents.

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whole life versus term life insurance - News


Remembering that a house is a home; finding cheap insurance STLtoday.com
- Jan 30, 2012
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNG3V9i8AN_w_7dFKO_tsSdk0aumFgamp;url=http://www.stltoday.com/business/columns/jim-gallagher/remembering-that-a-house-is-a-home-finding-cheap-insurance/article_f0610aec-4926-11e1-8830-0019bb30f31a.htmlbRemembering that a house is a home; finding cheap binsurance/b/b/abr /font size=-1bfont color=#6f6f6fSTLtoday.com/font/b/fontbr /font size=-1His great idea is a quot;bwhole life/bquot; binsurance/b policy for about a thousand dollars a month. I feel that this is a waste of money. I am a 27-year-old who is married and has a nine-month-old. I feel a bterm/b life policy is the best bet./fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?pz=1amp;ned=usamp;ncl=dWM0Bd5hXy0cKKMnobrb/b/nobr/a/font/div/font/td/tr/table

Retiree ready to cash in his life insurance policy The Star-Ledger NJ.com
- Jan 19, 2012
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNHldd1VWLiF4GtX1yaSzJDlU6nruwamp;url=http://www.nj.com/business/index.ssf/2012/01/retiree_ready_to_cash_in_his_l.htmlbRetiree ready to cash in his blife insurance/b policy/b/abr /font size=-1bfont color=#6f6f6fThe Star-Ledger - NJ.com/font/b/fontbr /font size=-1I have a $15000 bwhole life/b policy which is paid up. I#39;d like to cash in the policy since my wife will not need this money. What are the tax ramifications if I cash out and give the money to our children, who could use the funds now? bOr/b should I keep b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?pz=1amp;ned=usamp;ncl=dxVc6zRlpYluEKMnobrb/b/nobr/a/font/div/font/td/tr/table

Fitch Affirms New York Lifes IFS at AAA; Outlook Stable MarketWatch (press release)
- Jan 25, 2012
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGH93rxir37om-8w9O0kDNxRYOMtgamp;url=http://www.marketwatch.com/story/fitch-affirms-new-york-lifes-ifs-at-aaa-outlook-stable-2012-01-25bFitch Affirms New York bLife#39;s/b IFS at #39;AAA#39;; Outlook Stable/b/abr /font size=-1bfont color=#6f6f6fMarketWatch (press release)/font/b/fontbr /font size=-1The company#39;s career agency channel is a key driver of individual blife insurance/b and income annuity sales. Nine month sales comparisons in 2011 bversus/b the prior year exhibited strong growth in both protection and wealth management related products./fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?pz=1amp;ned=usamp;ncl=dY9S34aNu6bqeYMnobrband morenbsp;raquo;/b/nobr/a/font/div/font/td/tr/table

Watchdog Group Releases Top 10 Overpaid SC Educators List FITSNews
- Jan 31, 2012
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNEUUM_nBA4FfHUSBwhBat2s0dVERQamp;url=http://www.fitsnews.com/2012/01/31/watchdog-group-releases-top-10-%25E2%2580%2598overpaid%25E2%2580%2599-sc-educators-list/img src=//nt3.ggpht.com/news/tbn/77GdzgbMSmU-VM/6.jpg alt= border=1 width=80 height=80 /br /font size=-2FITSNews/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNEUUM_nBA4FfHUSBwhBat2s0dVERQamp;url=http://www.fitsnews.com/2012/01/31/watchdog-group-releases-top-10-%25E2%2580%2598overpaid%25E2%2580%2599-sc-educators-list/bWatchdog Group Releases Top 10 #39;Overpaid#39; SC Educators List/b/abr /font size=-1bfont color=#6f6f6fFITSNews/font/b/fontbr /font size=-1By news_releases • on January 31, 2012 Tax sheltered annuities, annual physical exams, generous blife insurance/b policies, personal automobiles and thousands of dollars in bonuses and expense accounts. Those are just some of the perks enjoyed by public b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?pz=1amp;ned=usamp;ncl=do_REVi9UmsBStMnobrband morenbsp;raquo;/b/nobr/a/font/div/font/td/tr/table

Technical Analysts Rejoice! SP 500 Signals the Golden Cross Motley Fool
- Jan 31, 2012
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNHeKC6rC9rIxeM_p8-efosIvBQ_bQamp;url=http://www.fool.com/investing/general/2012/01/31/technical-analysts-rejoice-sp-500-signals-the-gold.aspxbTechnical Analysts Rejoice! Samp;P 500 Signals the Golden Cross/b/abr /font size=-1bfont color=#6f6f6fMotley Fool/font/b/fontbr /font size=-1TTM operating margin at 20.08% bvs/b. industry average at 18.18%. TTM pre-tax margin at 19.91% bvs/b. industry average at 16.17%. 4. AFLAC (NYSE: AFL ) : Provides supplemental health and blife insurance/b. SMA50 at 43.57 bvs/b. SMA200 at 43.29 (current price at b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?pz=1amp;ned=usamp;ncl=d2BA1LFNddLTKVMnobrband morenbsp;raquo;/b/nobr/a/font/div/font/td/tr/table