{"id":330,"date":"2018-03-30T02:00:00","date_gmt":"2018-03-30T14:00:00","guid":{"rendered":"https:\/\/www.twinbridgesinsuranceagency.com\/blog\/?p=330"},"modified":"2018-03-26T14:41:05","modified_gmt":"2018-03-26T20:41:05","slug":"differences-between-whole-and-term-life","status":"publish","type":"post","link":"https:\/\/www.twinbridgesinsuranceagency.com\/blog\/differences-between-whole-and-term-life\/","title":{"rendered":"Differences Between Whole and Term Life"},"content":{"rendered":"

Picking the right life insurance policy is a very important decision for anyone in the Albany, NY area. For those that are shopping for life insurance, choosing between whole life and term life is a big choice. There are several differences between whole and term life that should be taken into consideration when you are choosing your policy. <\/p>\n

Term of Policy<\/h3>\n

One of the main differences between a whole and term life policy is the length and term of the policy.  Like the name of the insurance options suggest, term life insurance will provide you with coverage for a specific period of time while whole life will provide you with coverage for up to your entire lifetime. <\/p>\n

Cash Value<\/h3>\n

Another difference between the two options is that whole life insurance policies have a cash value. After making payments for a certain period of time, your policy will begin to accrue value that can be liquidated at any time.  The value will continue to grow based on a conservative rate of return, which can also make it a good conservative investment option.  Term life policies have not cash value. <\/p>\n

Amount of Coverage<\/h3>\n

The amount of coverage you receive is also much different. Term life insurance will typically provide you with far more coverage for a much smaller monthly payment than whole life. This can make it ideal for someone that is only looking for insurance coverage and is not looking for whole life investment benefits.  <\/p>\n

If you are in the Albany, NY area and are considering your life insurance options, meeting with the NY Twin Bridges Insurance Agency will be very helpful. The NY Twin Bridges Insurance Agency will help you determine which type of life insurance is right for you and how much you need. They can then help to get you into a great policy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Picking the right life insurance policy is a very important decision for anyone in the Albany, NY area. For those that are shopping for life insurance, choosing between whole life and term life is a big choice. There are several differences between whole and term life that should be taken into consideration when you are choosing your […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[269,161],"class_list":["post-330","post","type-post","status-publish","format-standard","hentry","category-insurance","tag-albany-ny","tag-ny-twin-bridges-insurance-agency"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t