term life insurance pros and cons
what is best universal or term life insurance
Could someone give me the pros and cons of both?
That depends track of why you buy insurance in the first place. quick tips: 1) If you buy insurance to cover a temporary need (eg payment of debts, ensuring that children are cared for until they can fend for themselves, etc.) of less than 20 years, go with time. "2) If you're buying insurance perminent to fill a need that can / will never go away if you die tomorrow or 50 years (IE: funeral expenses, probate costs, taxes on final the charity, etc), go with whole life or universal. In the long run, the cost of U / L or whole life policy will be much cheaper in the total amount paid in premiums. 3) If you're buying insurance as a tax haven (depending on which country you live in) to go with U / L. 4) If you are very young, like under 30, consider U / L during the period: # 1 The additional cost of U / L during the period will be very low (like $ 20 – $ 30) depending on the amount you need and # 2, the Buy term and invest the rest strategy has been discussed and refuted several times and is typically promoted in my opinion, by people or companies that have little experience and knowledge of all aspects of financial planning and insurance benefits other than long term. There are several pros and cons of both, depending on your situation and needs. Go see a licensed insurance broker who can do a proper analysis needs, explain the differences between term and U / L (and provides … not just one or the other or the force as a template to sell you on all you offer), applicable to your situation and market shop the best deals that suit the exact needs (go a runner … make them do the job of shopping around instead of on your own).