It depends on your wishes and your monetary situation. If you can comfortably raise premiums and need your life insurance policy to become a monetary asset, whole life insurance could be worth the price.
But if you only need to buy life insurance to give your circle of family members a monetary safety net when you die, a
Term Life Insurance
Politics is enough.
For a healthy nonsmoker in their 40s, the average $500,000 whole life insurance policy is $5,972 per year, according to
Average Life Insurance Rates
By comparison, the same claimant could pay only $308 per year for a $500,000 term life insurance policy for 20 years.
Modified whole life insurance is a type of whole life insurance that offers lower premiums for the first few years. After that, the premiums disappear. During the “modified premium” period, you cannot contribute to the monetary price of your policy.
On a note. . .
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