Term Insurance Vs Wholelife

By: Opang
Many today are still confused the difference between the term insurance and wholelife insurance. I have always thought that term insurance is not necessary and a waste of money. But I changed my mind recently. For most of us, in fact, we may not need whole life insurance at all.

Whole life insurance is particularly useful when you have a disabled child in the family. When that parents passed away, the wholelife insurance will ensure that the child receive proper coverage till the day he dies.

Sometime, all one needs is term insurance. The money can help pay for funeral bills and others. Term insurance may come in handy, depends on what you need.

Term insurance usually go for a couple of years, And some can be renewed, but once all your kids have grown up and you got yourself a good retirement fund to rely on, then this no longer require.

It is up to you of course, but it will be the only income if someone pass away early. Some may choose to give it to charities. Death happens anytime. You need something for your family.
Life Insurance
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