What are the differences in Whole Life Insurance and Term Life insurance?
Fred
Plano, TX.
Fred,
Before you decide to buy whole life insurance over its counterpart, Term Life Insurance, it is crucial for you to understand the basics about Whole Life Insurance in Texas.
The first type of whole life insurance is non-par or non-participating, whereas the second type is participating. The major difference between these two types of policies is that you cannot change them. In terms of a participating type insurance, the insurance firm will share the dividends with you.
Great Question.