Term vs Whole Life Insurance (Life Insurance Explained)

In this video, we're going to be talking about the pros and cons of term life insurance vs whole life insurance. We'll explain the differences between the two types of insurance, and then give you a sneak peak of what to expect if you decide to choose one over the other.

If you're considering buying life insurance, be sure to watch this video! We'll give you a breakdown of the pros and cons of term life vs whole life insurance, and show you what to expect if you decide to buy either type of policy. After watching this video, you'll have a much better understanding of what each type of insurance offers and which is the right choice for you!

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DISCLAIMER: I am not your financial adviser nor your attorney. These videos are for educational purposes only. None of my content is financial advice, tax advice, or legal advise. You must always speak to a licensed professional to evaluate your specific situation. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments. I get commissions for purchases made through links in my video description box. Thank you for watching!

[sirmoneymoves]

Drop a 💯 in the comment section if you felt this video was helpful.

[gogok]

You are very articulate and professional.

[k_ango]

You give great explanations on these policies. I watched the IUL policy video first because I wanted to be clear before I move forward with one. Your explanations are fantastic, thank you again!! I read on the policies, a very thick and thorough book on IUL, however watching your videos help to bring things in a clearer focus! 👏🏽👏🏽👏🏽

[christianmommybillionaires]

Thank you so much for this breakdown! Very clear and so easy to understand 👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽

[diniguez]

@sirmoneymoves I would love to see a video on infinite banking. The good the bad and the ugly.

[alexsmith]

This is a good breakdown. So much misinformation by both sides about Whole Life specifically

[amberjackson]

This is a great video! Very easy to digest content and so important.

[ellicemcfarlane]

Thank you for looking at both sides. The type if insurance is complete dependent on individual needs and one isn't necessarily better than the other. Find a good financial advisor that will look out for your interests.

[lamarscott]

Awesome video, bro! I am in Dallas TX, and I am seriously considering getting life insurance soon. Can you give me any advice on the next step? Who? How? Or maybe you? Just looking for something sufficient, and affordable, of course. Looking forward to your feedback. Have a blessed day!

[glennawilliams]

Great explanation of pros and cons of both policies.

[Star-wden]

Are you able to help create a properly structured insurance plan for people searching for insurance?

[QueenMean]

So I think the concept of paying for a term policy and like you said it frees up money to invest. Wouldn't that be most beneficial? To be able to afford 10x salary and then use additional funds (that would otherwise go towards a more expensive whole life policy with less coverage) to invest in a financial vehicle that would grow my money over time? By the 30yr mark I sure be self-insured, my debts should be lower ect ect...idk thoughts?

[tonydouglas]

Hi Sir. I have 3 Cash Value Whole Life insurance policies on myself and my wife and my son. Each with a base of $50k death benefit. Total monthly premium between the 3 is $688/month. I started the policies in June of 2020. I think it was a good move, but how does Whole Life compare to the IUL type policy ?

[oscarmonreal]

How long do you need to be in the whole life before you decide to stop paying the premium and withdraw?

[d.d.rhymer]

💯 I'm interested in life insurance for family as well. What is the difference between Universal life Insurance and Whole life Insurance?

[RockwearbyEddie]

What is the best life insurance for a 60 year old person on social security disability (due to a heart condition that only worsens with each passing day) that wants to make sure that in case of their death that at least their funeral expenses can be paid? I worry about this all the time that no one in my family will be able to afford to bury me.

[teena]

Can you borrow from a term life insurance policy?

[jarredlustgarten]

If I understand correctly, you are only earning interest on the cash value of the policy not the death benefit. So if you wanted to borrow your own money then you have to pay interest on that loan to the insurance company which sounds crazy to me.
Then when you die your kids only get the death benefit. The cash value that you built up is gone..the insurance company takes it.

[markf.]

This is a quote from White Coat Investor in their post titled "Why is whole life insurance a bad idea most of the time."
REGRETTED BY MOST PURCHASERS
Rather than hold a whole life policy for their entire life (as it is designed) four out of five surrender it early. In fact, over one third surrender it within five years of purchase. Once people realize and understand what they have bought, they no longer want it and have few options, none good.

[sirmoneymoves]

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