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I Have No Life Insurance And Would Like To Know About A Whole Life Insurance Policy?

What Is A Whole Life Insurance Policy? Can I get a life insurance quote online? Are Whole Life Insurance policies expensive? Thanks

Public Comments

1. Whole life is like life insurance with an investment - the premiums are much higher than for 'term life' and then at the end of the policy you get some money back. Unfortunately, the effective interest rate on your investment is very low and the money is tied up for a very long period of time. You would be better off to buy term life - then, when able, invest the cost difference between term and whole life in an investment that you control. You will likely be able to earn a higher rate of return and, in the event of an emergency, you will have access to the money.