Term Life versus Permanent Life: Which Way Will You Swing?

Term Life versus Permanent Life: Which Way Will You Swing?:  The differences between these two types of insurance policies and what advantages they offer.

“My spidey sense is tingling!” That’s what our favorite teen Peter Parker said when he landed on a life insurance billboard mid-fight. Well, he was actually tangled up with those super villains Dr. Octopus and the Green Goblin. Sure, he may be able to do everything a spider can, but he’d better watch out. These scoundrels have stepped up their game. They really want to squash him and they’re so venomous, they’ll stop at nothing! He needs to focus on getting life insurance and do something about what’s bugging him?

Thankfully, Parker Industries offers life insurance plans, but this friendly neighborhood superhero has been swinging back and forth between term life and permanent life insurance. Well, he’ll need to do something soon. The Daily Bugle is considering doing a feature story on Spider Man’s lack of coverage. And who knows how they’re going to spin it! Hmph, this is going to require some wrist action! So he’s decided to get on the web to search for some answers.

Eureka! He found us online at Achieve Financial Group! We’re here to explain to this science wiz what the advantages are of having term life and permanent life insurance.

Term Life Insurance
 It’s among the least expensive types of insurance available.
 The premium stays at a fixed rate through the duration of the policy.
 If you get this insurance at a young age, your monthly payments will remain low until the end of the policy.
 This type of insurance does not require a waiting period and you won’t incur additional fees.

Permanent Life Insurance
 The premiums are usually higher than term life insurance
 You can get an accrual of the cash value of the policy.
 You can maintain coverage for life, if you keep the policy. If you surrender the policy, you’ll get a full refund, as well as an accrual of cash.
 Not only do you get a fixed rate on your premiums, you won’t face an increase like you might with term life insurance.
 When you decide to withdraw funds from your insurance, the money will be tax free.

Alright Spider Man, nobody knows who you are, but they do know which life insurance plan works better for them and so do you. Now, you don’t have to climb the walls anymore with worry. Your identity can remain secret and you can have a policy that protects you, along with your loved ones. Isn’t that marvel-ous!


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