Monrauch on Nostr: Whole Life Insurance Whole life insurance, also known as permanent life insurance, ...

Whole Life Insurance

Whole life insurance, also known as permanent life insurance, provides lifelong coverage for your entire lifetime. This type of policy guarantees a fixed death benefit and a cash value component that accumulates over time.

Pros:

Lifelong coverage with no expiration date
Fixed premiums remain the same throughout your lifetime
Cash value component grows over time

Cons:

More expensive than term life insurance
Limited investment options for cash value growth
Potential for lower death benefits due to policy loans or withdrawals

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