There are similarities between whole of life insurance and term insurance in that both forms of life insurance pay out a specified sum to the bereaved when the person whose life is insured passes away. However the similarity stops there. Whole of life policies pay out whenever the insured dies, regardless of when that is, whereas term insurance policies only pay out if the insured party dies within the specified time frame of the policy.
Posts Tagged ‘whole life coveer’
How whole of life insurance works and how to make it cheaper than it should be.
Thursday, November 13th, 2008Life insurance and getting the best deal for you and your family
Sunday, November 9th, 2008There comes a time when each one of us will need life insurance. Whether it is to cover a loan or a mortgage or just to make sure that your loved ones future is cared for life insurance plays a part. The aim of this article is to help in your understanding of which type of policy to best suit your needs and circumstances when the time comes.