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Interesting article ....
Think of a term life insurance policy as leasing a car. When you lease a car you get the benefits of using the car, but when you stop paying you don't have a car anymore. As with term insurance as long as you pay your premiums you get the benefit of the term life insurance policy, but when you stop paying, you no longer have any coverage.
Posted by Ganesh Dalvi at 10:12 AM
Yes, it is easy to understand that you are only covered as long as you are paying your life insurance premium.
ReplyDeleteOr you can compare the two different life insurance options to a television subscription service.
No permanent saving or cash back but a definite saving on your premiums makes the term life insurance the option for many people that cannot afford the investment properties of a whole life insurance policy.
That's correct.
ReplyDeleteThank you for browsing thru and your comments.