Life Insurance Basics

I know the whole life insurance thing is not a pleasant subject. It’s a necessary fact of life though, when you have a family. It sure does give you peace of mind to know that you’ve made provisions for your children in the event of your passing.

If you haven’t researched life insurance lately, you might want to do a little research and compare insurance quotes for various life insurance policies.

Do you understand the difference between whole life and term life policies? I’ll clear that up for you quickly, if you’re not sure.

Term Life Insurance: An insurance policy that is in effect for only a specific period of time — hence the name. You make payments and if you die while it is in effect, your beneficiaries receive benefits as long as you made your payments.

Whole Life Insurance: An insurance policy that is in effect for your entire life. Yes, this insurance is more expensive but the premiums won’t ever go up over time and they also won’t expire.

I urge you to put aside any negative feelings about life insurance and make sure your family will be provided for after your death.

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