Hidden Secrets Insiders Know Choosing Life Insurance Wisely

Types of Life Insurance

There are primarily two types of life insurance: term life insurance and whole life insurance. Term life insurance offers coverage for a specific period, typically ranging from 10 to 30 years. It's generally more affordable and straightforward, making it an ideal choice for those seeking temporary coverage. Whole life insurance, on the other hand, provides lifelong coverage and includes a savings component, known as cash value, that grows over time. This type of insurance tends to be more expensive but offers benefits like tax-deferred savings and the ability to borrow against the policy's cash value.