General insurance Do you love term insurance or whole life?

[sincerem]

When it comes to insurance, their are different durations per policy in each of the insurance companies. It depends on the term of the duration in which the insured preferred. If you go for 'term insurance premium policy, then it is meant that, you'll spend some years before your benefit come to you. Some persons prefer such than the whole life insurance package.

"Whole life insurance term, or life time insurance premium policy can be considered as a lifetime insurance option for the insured. This means the contract takes a lifetime unless otherwise occurs before it can be terminated. The benefits comes when something bad happens since it is agreed on life time basics. If something terrible doesn't happen in the life of an insured, then the benefits won't be activated.


Which one do you prefer? And why do you prefer it to the other?

 

[btaliat]

I prefer the term life insurance. This is because it will serve as saving for me. I can easily come the compensation when the time elapses and start something better with it. This can even let me build more in my life and still leave many properties for my loved ones.

 

[Jamoflondon]

I think I love term insurance and the reason why I prefer it is because you get to be alive to receive your compensation and then it doesn’t require staying a long time to be compensated, you can easily buy a two years contract and once you lay the premium and follow the protocols, you will be cashing out your earnings in a short period

 

[Mandy96]

I think both are good but The only thing I have against the whole life insurance is the fact that the client don’t get to live to enjoy his or her compensation which makes it look like a death wish. Maybe i am the one that doesn’t understand it the way it works