Is it Good to Convert Term Life Policy to a Whole Life Policy?

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Is it Good to Convert Term Life Policy to a Whole Life Policy? – This is a place for the community to provide tips and advice on Is it Good to Convert Term Life Policy to a Whole Life Policy?. This topic was created by Ben In Tenn and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - Converting Term Life to Whole Life

Published: 9 years, 3 month(s) ago | Submitted by Bryant Sinkler | permalink

Learn if converting a term life policy to whole life is right for you by talking to an independent insurance agent. With 27000 companies you'll find the best coverage.
Tags: Converting Term Life to Whole Life

For further reading: https://www.trustedchoice.com/term-life-insurance/coverage-types/convert-term-whole/ ^[1]

Tip 2 - Converting Term Life to Whole Life – State Farm®

Published: 9 years, 3 month(s) ago | Submitted by Cube Clerk | permalink

Converting term to perm life insurance provides a State Farm policy that gains value throughout your life while protecting your family.
Tags: converting term life to whole life , converting term to whole life insurance

For further reading: https://www.statefarm.com/insurance/life/resources/converting-term-to-permanent ^[2]

Tip 3 - Whole life vs. term: There’s a clear winner here

Published: 9 years, 3 month(s) ago | Submitted by Bruno Ianna | permalink

Term bests whole life only when it comes to price.
Tags: Life Products, Life Planning Strategies, life insurance, Life Sales Strategies, estate planning, life insurance products, life insurance agents, Term insurance, Term life insurance, car insurance, life product, Year in Review, whole life, term life, term life insurance policies, car loan, life insurance decisions, life insurance need, purchase whole life insurance

For further reading: http://www.lifehealthpro.com/2013/06/19/whole-life-vs-term-theres-a-clear-winner-here ^[3]

Tip 4 - Which is Better For You: Term or Permanent Life Insurance?

Published: 9 years, 3 month(s) ago | Submitted by Vikas Maheshwary | permalink

It may be difficult to decide between permanent and term life insurance. Here is what you need to know.
Tags: permanent insurance,money,insurance policies,fees,term insurance,investing,consultants,financial advisors,insurance,interest rates,Daniel Solin

For further reading: http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2014/02/26/which-is-better-for-you-term-or-permanent-life-insurance ^[4]

Tip 5 - Term Insurance | Life Happens

Published: 9 years, 3 month(s) ago | Submitted by Solange Del Pozzo | permalink

Advantages One of the biggest advantages of term insurance is its lower initial cost in comparison to permanent insurance. Why is it cheaper when initially purchased? Because with term insurance, you’re generally just paying for the death benefit, the lump sum payment your beneficiaries will receive if you die during the term of the policy. With most permanent policies, your premiums help fund the death benefit and can accumulate cash value. Term insurance is often a good choice for people in their family-formation years, especially if they’re on a tight budget, because it allows them to buy high levels of coverage when the need for protection is often greatest. Term insurance is also a good option for covering needs that will disappear in time. For instance, if paying for college is a major financial concern but you’re pretty sure that you won’t need life insurance coverage after the kids graduate, than it might make sense to buy a term policy that’ll get you through the college

For further reading: http://www.lifehappens.org/insurance-overview/term-insurance/ ^[5]