Which is Better for Me: Term or Cash Value Insurance?
Which is Better for Me: Term or Cash Value Insurance?Answer: If you are looking for a basic, low cost life insurance plan choosing term life insurance would be your best option. Term life will give you a certain amount of life insurance for a specific term. Term life insurance is a good choice for people on fixed incomes and with families. Cash-Value life insurance (whole and universal) is more expensive but has the benefit of building a cash value that you can borrow against. This is a good option for someone interested in having a life insurance plan well into their retirement years. There is much more to choosing what type of life insurance is best for you.
