In the guide below, Fuqua Insurance Agency explores whether term or whole life insurance is better for Tallahassee, FL, residents.
Term Life Insurance
Term life insurance is one of the most affordable options that covers policyholders for designated periods. This form of insurance is typically more affordable than whole life insurance policies, and it offers no cash value for policyholders.
Whole Life Insurance
If you’re seeking true lifetime coverage and cash value benefits, then a whole life insurance policy could be your best option. Whole life insurance policies that last for a lifetime are typically more expensive than term-based life insurance policies that expire after designated periods.
Differences Between Term and Whole Life Insurance
A primary difference between term and whole life insurance policies is that term policies expire, while whole life insurance policies do not. Term policies can be renewed at the end of their expiration period, whereas whole life insurance policies never run out unless the policy is canceled.
How to Choose Between Whole Life and Term Life Insurance in Tallahassee
The best way to choose between short-term and long-term life insurance policies is to assess your income, financial responsibilities, and goals for surviving family members who would be affected by your death.
Talk to a knowledgeable life insurance agent to get a clear assessment of the best options for your unique lifestyle, budget, and life insurance expectations. An agent can answer your questions and provide you with a variety of policies to meet your needs.
Take the first steps towards protecting your home and family today – Contact Fuqua Insurance Agency in Tallahassee, FL to request a term or whole life insurance quote today!
