Another feature is the whole-life insurance dividend. Based on performance during the preceding year, this payment could be made to policyholders. Dividends can't be guaranteed. But if you do get one, you may use it:
You can easily protect your family's financial future by buying whole life insurance without worrying about policy expiration. As with all life insurance products the whole life pays a death benefit that is tax-free to your beneficiaries. The main difference between life insurance products is that it lasts throughout your entire life.
You decide how much money you wish to leave your loved ones. This is known as the Death Benefit.
Whole life insurance is a simple way to financially safeguard your family. As with all life insurance products, your entire life provides a tax-free death benefit to your beneficiaries if you die. The greatest difference between other types is that the entire life policy lasts.
Term insurance is a simple type of life insurance. It covers you for a specific time (e.g. 10, 20, or 30) and pays out if your term ends. Your beneficiaries are not entitled to any money if your coverage ends or you live beyond the tour. The death benefit and insurance premiums for most policies are guaranteed to remain the same throughout the term.
If you find the idea cash value and potential dividends appealing, it shouldn't be your main reason to choose your entire life.

If you are in the early stages of a career with high earning potential, you can buy your entire life at a lower price and lock in a lower rate.
The best whole-life rates will depend on your age and health.
If the idea and potential dividends of cash value appeals to your interests, you shouldn't make this your primary reason for choosing your entire life.
To help you better understand the difference between whole life and term life, here's a brief overview on each type of coverage.
The duration of your term-life insurance should be in line with the financial obligation. For example, if your child is dependent on you financially, you might purchase a 20-year policy. There are many life insurance companies that offer term life. Therefore, it is easy to compare life insurance quotes online.
A whole-life policy has two parts. The death benefit and the cash value.
