whole life term

whole life term
What is the difference in Term Life Insurance and whole life insurance?

Very simple. In term policy you pay for Insurance. You get nothing back. It has certain terms. 5, 10,15 amd so on. Its cheap and gives good insurance. Every person should have term policy.
Whole life is one of the best insurance product. I don’t know about others but i tell you of Max new york life. I have Whole life and term Both. For whole life, you pay cosiderably small amount like 5000,10000 a year. You can pay upto age 100. Thats the point here. no other policy goes beyond age 75 generally. Here even if you are 90 years old , you are iNsured. In this policy Sum assured goes on increasing without paying anything. It participates in bonuses, so slowly but steadily it builds up cash value. No matter how old are you, you should have one whole life. Best for children. It can be kept in force for atleast 70 years. It becomes huge money.


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