Assessing The Difference Between Term Life and Whole Life Insurance Policies

Based in San Jose, CA, Bayshield Insurance offers residents multiple types of insurance coverage. We strive to ensure that our clients find policies that will allow them to minimize risks. We want to make sure that our clients are covered in any situation.

Differences Between Term Life and Whole Life Insurance Policies

At some point, you’ll have to start thinking about the future. Life insurance helps you by providing coverage so that your loved ones will be protected as they deal with your passing. Life insurance covers your assets and helps alleviate some of the burdens that your loved ones may feel while they grieve your loss. Two of the most common types of life insurance policies are whole life and term life insurance.

Whole life insurance provides coverage throughout your entire lifetime. The policy is generally considered a low-risk way to protect your assets. Term life insurance provides coverage through a specified time period. You can choose the time period that you think is best, though the coverage normally lasts between 10 and 20 years. Term life insurance provides flexibility, as you can amend the policy to suit your individual needs.

As you figure out which type of life insurance is best for you, there are a couple of variables to consider. Notably, you have to assess where you are in your life. If you are single with no children, you obviously have a different life perspective than if you were married with children. You’ll also have to consider variables such as your age and your health history. If you are a San Jose, CA business owner, you’ll have to think about the future of your business after you pass away. Life insurance can help you set up an inheritance.

Consult with Bayshield Insurance

Visit our website today to learn more information about life insurance.