TERM LIFE PROTECTION
This type of policy locks your premium for the selected term.
- Advantage: You can purchase a term life insurance policy for a 20yr term. Your premium (price) will stay the same for those 20 years.
- Disadvantage: If you outlive the policy, and have not converted to a whole life. Your premium will increase drastically.
WHOLE LIFE PROTECTION
This policy will lock your policy premium (price) for the life of the client.
- Advantage: Can accumulates money over time, which you can withdraw tax free!
- Disadvantage: Price can be on the higher side.