If you are looking into purchasing life insurance, you have probably heard about both term life insurance and whole life insurance. Before you decide on one or the other based on what you have heard or what your insurance agent tells you, you need to understand the meanings of ?term? and ?whole,? and familiarize yourself pros and cons of each one (and how these pros and cons will affect you).First, we have term life insurance. It covers its policyholders for a certain amount of time, and that ...

There has been an on-going battle in the life insurance industry involving term life insurance and whole life insurance. The industry has survived the battle but the consumer is still asking the same question. Which one is better? The question is flawed because these two policies serve two different purposes. The real battle comes over the concept of buying term and investing the difference or the purchase of permanent life insurance. The proponents of buy term and invest the difference surmise ...