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Express Financial & Insurance Services

3222 Santa Monica Blvd
Santa Monica, CA 90404

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Should I Get Whole or Term Life Insurance?

One of the most important types of insurance that you need to consider getting is life insurance. When you are looking for a new life insurance policy, the two most common options are a term and whole life insurance. There are several factors to consider when you are choosing between these two different options.

Amount of Coverage

The first thing that you need to consider when you are shopping for life insurance is how much coverage you need to have. If you are looking for the most amount of coverage possible, getting a term life policy could be a great option. These insurance options typically will provide you with a high level of coverage for a specific period of time. However, after the term of the policy is over, you will lose all of the money that you put into it.

Investment Benefit

While life insurance is a security blanket for many people, it can also be used as an investment strategy. When you have a whole life insurance policy, some of the money you spend on premiums each month will go into an account that will appreciate in value. You will then have the ability to liquidate this money at any time. This helps to make a whole life insurance policy a good option for someone that is looking to diversify their investments.

If you are in the Santa Monica, CA area and are examining your life insurance needs, you should speak with the team at Express Financial & Insurance Services. The team at Express Financial & Insurance Services will be able to help explain to you all of the complexities that come with your life insurance options. They will also be able to help you to get into a great policy that meets all of your needs.