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Whole life insurance may sound great because it never expires, but it will cost you a big chunk of change every month

Whole life insurance may sound great because it never expires, but it will cost you a big chunk of change every month
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Life insurance is a type of insurance policy that provides a death benefit when the insured passes away.




There are different types of life insurance, including term and whole life.




Whole life insurance covers you forever, while term life has an expiration date. Whole life policies, however, are much more expensive per month than term policies.




Whole life policies also have a "savings account" element, though experts say you're better off investing your money or putting it in a high-yield savings account.




Policygenius can help you find the right life insurance for your needs. Get a quote today »



Life insurance is a type of insurance policy that pays out a death benefit if the insured individual passes away. While that concept is fairly simple, there are different types of life insurance with unique features that you should know about. One popular type of life insurance is called whole life insurance, or whole life.
This insurance provides both a death benefit and builds up a cash value, a type of savings or investment that you may be able to withdraw from your policy.
Whole life insurance is a type of permanent life insurance. That means it doesn't expire or go away on a specific date, a common feature of term life insurance.
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