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Term Life Insurance vs. Permanent (Whole)Life Insurance

Life insurance is recommended a strategy for infusion of cash for dealing with adverse financial consequence of the policyholder’s death. If structured correctly clients can enjoy favorable tax treatment unlike any other financial product. The death benefit amount comes in handy for the surviving family members. Dependent on the life insurance policy you can also take out income tax free policy loans. Discuss your options today with one of our licensed agents!

Our range of insurance options here at Dover Insurance & Financial Services Inc include mortgage protection insurance, mortgage disability insurance, funeral expense insurance, tax free retirement, spouse insurance, single premium whole life and term life insurance. At DIFS Inc. we believe that different people have different insurance coverage needs and that's why we offer customized insurance plans for everyone.

Consider your family's future! What would happen to them if you suffered a debilitating illness or injury, or suddenly passed away? Would they lose their home because they couldn't pay the mortgage? Would they even have enough funds to pay all the regular bills? For most people, their family is their main priority and we want to help you protect them from financial devastation in the event of your disability or death. 

Discuss your options today with one of our licensed agents!

Take the first step to protecting your family's future by learning more about our different kinds of life insurance and getting your free quote today. Click on the link to speak with an experienced insurance representative about options that are best for you and your family.

Permanent insurance or whole life insurance provides lifelong protection, and the ability to accumulate cash value on a tax-deferred basis.

Unlike term insurance, a permanent (whole life) insurance policy will remain in force for as long as you continue to pay your premiums.

Because these policies are designed and priced for you to keep over a long period of time, this may be the wrong type of insurance for you if you don’t have a long-term need for life insurance coverage.

Term life insurance is temporary insurance. Term periods typically range from one year to 30 years, with 20 years being the most common term.​​

But what happens if you buy a term policy only to realize at the end of the term that you still have a need for life insurance? Well, it’s sort of a good news, bad news story. The good news is that many policies will give you the option to renew your policy when you reach the end of the term. The bad news is that you’ll probably face much higher costs since age is one of key factors used to determine life insurance premiums.

© 2012 Dover Insurance & Financial Services, Inc.

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