Term Or Whole? Which Life Insurance Policy Is Best For You?

Term Or Whole? Which Life Insurance Policy is Best For You?

Choosing the right life insurance policy can give your loved ones the protection they deserve.

Life insurance is meant to provide a financial cushion for your loved ones after you are gone. With all the policies that are available, it can be difficult to choose the right policy for your needs. Keep this guide in mind to help you figure out which option is best for you.

Term life

Term life insurance is meant to provide coverage for a specific amount of time, typically between 10 and 30 years. The premiums are very affordable. If you pass away during the life of the policy, your dependents will receive the payout. If you outlive the policy, there will be no payout.

Whole life

With a whole life policy, you are covered for your entire life, no matter how long you live, as long as you keep up with the premiums. Whole life policies also come with a cash value savings account that you can borrow against while the policy is still in play.

Working with an insurance professional can help you find the right life insurance policy to meet your specific needs. Contact Udell Family Insurance in Westlake Village, California for all of your life insurance needs.

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