The biggest difference between term and whole life insurance is the length of coverage.
Whole life insurance policies have no expiration date and are more expensive than term life because they also have a cash value component.
Part of each monthly or annual premium goes to the insurance company and part of it goes toward building a pool of cash for the policyholder, which earns a small amount of interest.
Deciding whether whole life insurance is right for you boils down to two questions: Do you...
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