Life insurance is financial protection against the loss of a life. It can be used to pay for final expenses, medical expenses, college tuition and more. Whole life insurance (aka permanent insurance) covers your life from the time you purchase a policy until the day you die ( as long as you pay your monthly premium). It is more expensive for younger adults than term insurance; however, it is usually less expensive than term for seniors. Term insurance is life insurance for a specific period of time: usually 5, 10, 15, 20, 30 or 40 years. Once the term ends, so does your policy. At that point you will need to be re-insured unless you have enough money in your estate to pay all your final expenses. Rates for both term and whole life are based upon your age, gender, height/weight, medical history and other factors. Remember the older you get, the more expensive both insurances will be for you. Don't delay, get your life insurance today. Your life is worth it!
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