Login or Sign up
Start Now

Term or Whole Life: Debate Settled

Written by Aaron Pinkston, Wed, Oct 14 2009

Recent Postings

Featured in Alltop The Yakezie Challenge

Topics

 

Which one should you choose: term insurance or whole life? The short answer is, “We do not know.” But thanks to us, now you do not need to worry about the question anymore.

How the insurance debate began

This debate has gone on ever since different forms of life insurance have been around, and it will continue to go on. The lines in the sand are sometimes philosophical and sometimes more practical. According to the Text Book of Life Insurance, the first forms of life insurance were only one year term. The London Assurance Corporation sold the first whole life policy in 1721. They have been fighting ever since.

The fact is, there are agents who only sell term life and others who only sell whole life. Each argues their product is better than anything out there. But anyone who takes a hard stance will ultimately be wrong some of the time. These agents have lost focus on the important thing about life insurance – it is about people, not product.

What really matters is which solution is best suited to you.

No More Insurance Jargon

As if that was not confusing enough, there are more than just two forms of life insurance. If you need coverage for at least 17 years, you could buy a 20-year term, a 17-year term, a universal life policy that ends in 17 years, an annually renewable term for 17 years, a 20-year endowment policy, or any number of other solutions. There are many different ways to solve the same problem. The tool does not matter as much as the final result.

We do not know which one is best for you. And any one agent couldn’t even know all your options. That is why the simple tools of Clarifinancial allow the greatest access to some of the best agents available. By getting the most competitive information from different perspectives, choosing a better life insurance policy gets easier for you.

We do not ask about the type of life insurance. Instead, we ask about the features that are important to you. By telling agents what is important to you up front, you can avoid all the confusing jargon while making sure the choices you see match your needs. Quality, competitive, customized results is what Clarifinancial is about. After all, we understand that choosing is only easy when choices are clear.

If you have a comment about this article, find us on Twitter or send an email.