Suze Orman Weighs In Her Opinion On Life Insurance Term vs Whole Life Insurance
Suze Orman takes a call from Yvette who calls in to ask about the differences with Life Insurance Term vs Whole Life Insurance. You may be like Yvette who does not fully understand the difference between the two types of life insurance. Provided by basequotes.com, basequotes.com is an insurance comparisons site that offers life quotes, car insurance quotes, health insurance quotes, homeowners insurance and long term care insurance. Insurers provide the most competitive insurance quotes because they know they must compete with other insurance companies. Get Multiple Low Insurance Quotes Term Life Insurance, compare them and save money today.
“Buy Term, Invest the difference”. There’s no Cash value on Term. Cash value insurance has a higher premium than Term Life.. so buy or switch to term and invest the premium difference. The return on your investment will be so much higher than any cash value you would get. To piggyback on basequotes’ comment, read the fine print in your cash value insurance policy.. that cash value is not yours even if you saved it, it’s owned by the company and you would have to borrow it at a %.
Term Life insurance doesn’t have Cash Value AT ALL!
What is the cash value of a auto insurance policy? There shouldn’t be any cash value on an insurance policy because the insurance company is controlling your money. Be very cautious when purchasing any type of insurance that ties with an investment to the insurance company.
Whats the cash value of a term policy???