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Monday, May 08, 2006
Whole life coverage is costlier, worthwhile as people live longer
NEW YORK — With term life insurance rates so cheap, why would anyone want to buy a permanent policy? After all, premiums can be four, five or 10 times higher than with term insurance, and comparing permanent plans isn't easy.There's still a place for whole and universal coverage. The chief advantage of permanent plans, also known as "cash-value" insurance, is that they are, indeed, permanent; they last until you die while term coverage lasts for 10 to 30 years, and the price can skyrocket on renewal. Read more...
posted by Charles Monat Associates at 9:01 AM
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