Term life insurance vs. cash-value life insurance
Personal Finance Managers have long recommended term life insurance
over cash-value life insurance as the sensible choice for most life insurance consumers.
They state that with term life insurance, you pay only for the protection you need and
only for the length of time your dependents are financially vulnerable. These
experts also claim that most people would fare better buying a low-cost term life insurance policy and
investing the substantial savings in a portfolio of no-load mutual funds. The savings of term life insurance
vs. cash-value life insurance can run from hundreds to thousands of dollars per
year. For more information on the benefits of term life insurance over cash-value life insurance,
please see the July '98 issue of Consumer Reports.
Increased competition among life insurance companies has dramatically lowered premiums in
recent years. A term life insurance policy offering $250,000 worth of life insurance
protection that cost $600 a year, just seven years ago, would have an annual
term life insurance premium of about $275 today. When we say we can save you 30-70% on
your term life insurance premiums it is not just marketing hype.
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