Whole Life vs. Cheap Life Insurance
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Term life insurance is generally the cheapest form of life insurance, but it’s not the only option. Unlike term coverage, in which only the face value is paid out upon your death, a whole life policy accrues a cash value.
In order for the cash value to increase, money over and above that which is necessary to cover the premium must be collected. Because of this, whole life insurance rarely will be the cheaper of the two.
With a whole life insurance policy, a portion of the premium you pay will be used to invest in mutual funds, stocks, bonds or other type of interest bearing investment.


