Life is full of unexpected twists and turns. One day you could be perfectly healthy, the next, you could have suffered an accident and ended up in the hospital or worse. It’s important to keep yourself safe and leave your family safe if you were to pass. That’s why there is life insurance.

There are two forms of life insurance, term and whole-life, both used to help you and your family if an accident or an illness were to occur. But what is the difference between the two?

Term Insurance only covers and provides protection for a certain amount of time. This insurance is extremely affordable and protects your family from any financial issues in the event of death. There is a benefit guaranteed in the event of death, however, there is no cash value and premium will increase after certain intervals of time (it depends on what policy you decide you need). In some cases, term life insurance can also be used to supplement whole life insurance.

Whole-life insurance provides protection as long as premium dues are paid. It is used for long-term need of life insurance. The premium dues are initially higher than that of term life insurance, but these premiums do not increase with time, and it does build cash value.

Both insurance policies will keep you safe, at All 9 Insurance, the premier life insurance agency in Haddonfield, NJ, we can help you get the coverage you need and the coverage that will help protect you and your family the best.