LIFE INSURANCE TERM & WHOLE / UL LIFE

Life insurance pays a lump sum to your loved ones if you die. Term Life is the most affordable—it covers you for a set number of years and pays out only if you die during that time. Whole Life lasts your entire life, has fixed premiums, and builds cash value you can borrow from. Universal Life also offers lifelong coverage but with flexible premiums and a cash value that grows based on interest or market performance.

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​In short: Term is simple and temporary, Whole is lifelong with savings, and Universal is flexible and investment-linked.