Do you want coverage for a specific period of time or do you want lifetime*2 coverage?
Studies show that many people are living longer.*5 This is important to consider when selecting life insurance. If you select term insurance, you may be at a higher risk of outliving your policy.
Are you more interested in a short-term, cost-effective option, or would you like the opportunity to build up cash value
If you select whole life insurance, the cash value grows tax-deferred over the life of the policy and can be accessed through a loan to help provide an emergency fund or to supplement educational expenses or retirement income.*3
Term insurance can be cost-effective, but there is no cash buildup.
Would a combination of the two work for you?
A combination policy can offer some of the advantages of both types of insurance. By combining a smaller whole life policy and a term life policy that can convert into whole life, you can have an affordable plan that meets your protection needs while also establishing a lifetime asset.