Pork Green Chile

Have you considered your life insurance lately? Does the life insurance policy that you bought years ago still fit your family needs? If you have a term life insurance policy, it may make sense for you to consider switching it to a whole life policy under certain conditions — but what are those conditions? Let's start by reviewing the difference between term and whole life policies. Term life insurance policies are designed to provide protection for your family in case of your death — but only for the term stated in the policy (for example, 20 or 30 years). Aside from the benefits payable upon death, there are generally no other benefits included. When the policy reaches maturity, the coverage ends and you stop paying premiums. Some term life policies will allow you to qualify automatically for a new term life policy after expiration. You won't have to take another medical exam, but your premiums will likely increase. Whole life insurance costs more, but it is a permanent form of insurance with an investment component. As long as you pay the premiums, coverage generally stays in effect for your entire life (unless you live to age 95-121 depending on your policy). A portion of your premiums goes to cover death benefit obligations, while the rest is placed in some form of investment, building cash value.