Which is better for me: Term or cash value life insurance?

Answer: If you are looking for a basic, low-cost life insurance plan, choosing term life insurance would be the best choice for you. Term life insurance is a good choice for people on fixed incomes and with families.

Cash-value life insurance (whole and universal) is more expensive but has the benefit of building a cash value that you can borrow against. This is a good option for someone interested in having a life insrance plan well into their retirement years.

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