Los Angeles, CA (PRWEB) April 06, 2012
Online Insurance Marketplace, the premiere site of buying life insurance online and finding a life insurance agent list for no medical exam life insurance announced a new blog today, titled, "Should One Buy Term Life Insurance or Whole Life Insurance?"
The blog, (http://onlineinsurancemarketplace.com/should-i-buy-term-life-insurance-or-whole-life-insurance/) explains that the answer is both, if possible. Both types of coverage can provide excellent protection for a family’s financial security. But each type varies in how it works and how much it costs.
Whole life insurance lasts for a whole life (as long as one keeps paying the premiums) and is generally more expensive than term life insurance. Many types of whole life policies accumulate cash value (which, in some cases, can be borrowed against or even “cashed out” in financial emergencies).
Term life coverage is in effect (again, as long as premiums are paid) for a fixed term, such as ten, twenty, or thirty years. It accumulates no cash value. And if the policyholder outlives the term, the insurer keeps the entire amount paid in premiums. However, a term life policy is generally quite a bit less expensive than a whole life policy.
It all depends on needs and budget—how much one would like the benefit to be worth and how much one can afford to pay in premiums. Even in the case of whole life coverage, which can accumulate cash value, don’t think of any type of insurance as an investment in the traditional sense. Life insurance is about protection, not profit.
Individuals interested in receiving a term life insurance quote for seniors life insurance, and those that would like to find out where to buy life insurance can read the blog.
Online Insurance Marketplace is an online provider of life, home, health, and auto insurance quotes. It is unique in that this website does not simply stick to one kind of insurance carrier, but brings the clients the best deals from many different online insurance carriers. This way, clients have offers from multiple carriers all in one place, this website. On this site, the client will have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.
For more information, please contact http://www.onlineinsurancemarketplace.com