What Is the Difference Between Term Life and Whole Life?

Life insurance is something many people realize they need after a tragedy. When a loved one passes away, the family is left with funeral expenses and other unexpected bills. Having a life insurance policy in place can prevent financial disaster for those who are left behind. The agents of San Marcos Insurance Group can provide residents of the Chandler, AZ area with the information they need on both whole life and term life insurance. 

Who Should Have Life Insurance?

In most cases, it’s advisable for everyone to have some type of life insurance. Many use their benefits to pay for their final expenses and to help with the execution of their estate. If you are the sole breadwinner for your family, having a life insurance policy in place is essential. A good life insurance policy will not only pay your final expenses, it will provide your family with the financial means to support themselves since they will no longer be able to rely on your income.

What’s the Difference Between Term Life and Whole Life?

The main difference between term and whole life insurance is that term life involves set payments over a specific amount of time, the result is a death benefit that can use to cover your expenses. Whole life is more of an investment that continues to grow as long as premiums are paid to the account. 

If you live in the Chandler, AZ area, you can contact the agents of San Marcos Insurance Group to discuss what your insurance needs are. They will be able to help you determine what type of life insurance bests suits your needs and will provide for your family in case of an emergency. Don’t delay! Find out how you can protect your family now!