Whole life insurance and term life insurance are two of the main types of life insurance policies available to individuals at AS Insurance Agency here in the Manchester, NH area. Whole life insurance is a type of permanent policy that provides coverage and financial protection over your entire lifetime until you die or reach the age of 100. Term life insurance is a temporary policy, with coverage typically lasting for a set amount of time—usually 10, 20, or 30 years—before it expires.
Whole life insurance has several advantages over term policies. For one thing, whole life policies accumulate cash value over time and can be used as an investment tool. This money can be borrowed in times of need and will also provide your beneficiaries with a death benefit upon your death. In addition, premiums remain fixed throughout the duration of the policy and cannot increase due to age or health status changes.
On the other hand, term life insurance is often cheaper than whole life policies because it is considered less risky since it only lasts for a certain period of time. It’s generally best for people who want to ensure their family’s financial security in case they pass away early but don’t necessarily need long-term coverage. Another advantage is that if you outlive your policy, it won’t provide any benefits to your beneficiaries; however, you won’t have to pay any additional premiums either.
Reach Out To Us
For more information, give us at AS Insurance Agency a call today. We are proud to serve the Manchester, NH area and would be happy to help you find a policy that meets both your needs and budget. You will sleep better knowing that your family is protected.
