H&A Inc

Understanding How Life Insurance Works

Many individuals seek life insurance to help cover expenses should they pass unexpectedly. There are two main types of life insurance you can choose from. Here’s what you need to know before choosing between whole life vs term.


Whole life insurance does not have a coverage term limit. This life insurance can last through your final years with continuous payments. Many policies include a cash-out option that may come in handy when financial situations change. This type of life insurance tends to be more expensive than term.


Term life tends to have lower rates because it is only for a specific period of time. Common time periods include 5, 10 and 30 years. This type of insurance can help cover funeral and other end-of-life expenses should someone pass unexpectedly. Term life is budget-friendly for many families but doesn’t generally include a cash-out option.


The experts at H&A Inc. state that each type of life insurance fits different needs. Choosing the right one for you and your family starts with knowing your particular situation from a family, financial and health standpoint. A choice between whole life vs term life insurance starts with knowing what you need and can afford. Try to look beyond the immediate concerns of the family to choose the best option for you.

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