06-10-2024, 10:56 AM
When deciding between whole life and term life insurance, I weigh long-term financial goals against immediate needs. Whole life offers lifetime coverage and cash value accumulation, serving as a savings vehicle but with higher premiums. Term life, on the other hand, provides affordable coverage for a set period, ideal for temporary needs like mortgage protection or income replacement. I consider my current financial situation, future obligations, and risk tolerance to make the best choice for myself and my loved ones.