Comparing Term and Whole Life Insurance Using a Car Analogy
Should I lease a car or buy it?
Think of a term life insurance policy as leasing a car. When you lease a car you get the benefits of using the car, but when you stop paying you don't have a car anymore. As with term insurance as long as you pay your premiums you get the benefit of the term life insurance policy, but when you stop paying, you no longer have any coverage.
Whole life or "permanent policies" are designed to build
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