What is the difference between Term Life Insurance and Whole Life Insurance?
I have asked insurance agents but they were so busy trying to sell it to me that they neglected to answer the question. What exactly are they, and what is the difference between the two?
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- Term insurance costs a certain amount per year for a certain number of years. After that number of years, it ends or the price rises. Whole life insurance starts at a higher price, but the price is locked for your entire life. You can keep it for as long as you want, without having to pay higher premiums.
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