LifeInsurance4All.com is a free tool that allows you to check life insurance quotes without having to apply. Compare policy differences side by side and make a well-informed decision by comparing life insurance quotes online.

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Article Source: http://www.articlesbase.com/ – Whole Vs Term Life Insurance Comparisons And A Note About Coverage For Children

If you’re shopping for life insurance, then one of the first questions you’ve got to answer is whether you want whole or term life insurance. Each kind of insurance has benefits and drawbacks to it, depending on exactly why you’re buying it.

The biggest difference between whole and term insurance is the length of time you need it for. Whole insurance is meant to cover you for your entire life, while term life insurance is only temporary. Whole life insurance is more expensive, but the premiums never go up. You’ll even get a payout on it if you reach your 100th birthday. That payout is a guarantee, and it comes either on the date of death or the 100th birthday, whichever comes first.

Term life insurance is sold by term, usually in periods of an odd number of years. Typical policies can run for 3, 5, 10, 15, 20, or 25 years, and they’re a lot cheaper than buying a permanent policy which lasts your whole life. However the payout only comes at death. It’s not guaranteed on the 100th birthday if you happen to reach it.

If you’re buying an insurance policy for a child, always choose whole insurance over term. These policies are cheaper for children than they are for adults, and since they cover the child for his entire life, he will never need to buy another policy. Another reason to choose whole insurance for children is to lock in those cheap rates while the child is young. The longer you wait to purchase a whole policy, the higher the monthly rate will be.

When you’re shopping for a policy for yourself, consider a term policy based on your age and general health. Use those factors to determine how long of a term you decide to buy. As with anything, comparison shop to get the cheapest rate before you buy.

http://www.LifeInsurance4All.com/ is a free tool that you can use to compare insurance rates and policy differences side by side, without having to apply for insurance. Christy Love is a retired life insurance agent with over 30 years of experience in helping people protect what matters most… their family.

Article Source: http://EzineArticles.com/?expert=Christy_Love

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Source: http://www.articlesbase.com/insurance-articles/whole-vs-term-life-insurance-comparisons-and-a-note-about-coverage-for-children-1896464.html

Article Tags:
whole vs term, life insurance, comparisons, coverage, for children