As long as you continue to pay your premiums, whole life insurance will not expire.
These policies include a cash value that is guaranteed by the insurance company and can be accessed while you are still alive, all with the same lifetime premium. There are also whole life policies that pay off.
Does Whole Life Insurance Make Sense?
If you want long-term insurance protection and a way to save money for the future in a guaranteed account, whole life insurance might be worth it.
The cash value return on these policies is lower than what you could potentially earn by investing in the stock market, and they cost more than term life insurance.
Whole life insurance, on the other hand, can be a good value for people who want guaranteed long-term insurance protection and a safe way to build savings.
What distinguishes whole and term life insurance?
Whole life insurance, on the other hand, is permanent and can cover you for the rest of your life.
Term life insurance has a predetermined expiration date. While term life insurance does not have the ability to accumulate cash value, whole life insurance does. Along these lines, term disaster protection is significantly less costly than entire life coverage for a similar size demise benefit.
