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If you were to obtain life insurance would you look to obtain awhole life or...

If you were to obtain life insurance would you look to obtain a whole life or term policy? Describe each policy, discuss and defend your position. In order to get full points you must answer each element of the question.


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Life insurance is a contract between insurer and insured. Regarding paying a specific amount after the death of the patient. Life insurance after some time get mature and the amount of that is given to the person if he is not dead till that time but in whole life policy the insurer has to pay the amount over a fixed period of time or till the date he dead. The amount of Whole life policy is always given to the nominee of insured. Term life insurance plan offer the maximum sum assured in low premium. I will prefer whole life policy because life insurance dividends as refunds of premium over-payments but whole life policy guaranteed death benefits; guaranteed cash values which is fixed, predictable premiums; and mortality and charges related to the expenses that do not reduce the policy's cash value.

keosha answered 2 years ago
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