money help #2
TRANSCRIPT
2. Which is better term insurance of whole life insurance?
– In almost every case, term life insurance is a better option for people than a whole life insurance policy or a cash value insurance policy that builds money in a cash account for the insured to use. There are very few reasons that you would have a permanent need for insurance. Insurance is a protection against the sudden loss of a person’s income to protect those in the family who depend on that income. After your children have graduated from college and left the house and after you have paid off your mortgage, there is very little need for life insurance. Term life insurance provides a very low cost insurance policy for the specific amount of time that you need coverage.
Dave Ramsey and Suze Orman
https://www.youtube.com/watch?v=AIdG7cwHo04
https://www.youtube.com/watch?v=C7VOZnJy7lE
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