Are you shopping for life insurance but can’t decide whether you should go for term or permanent life insurance? Our experts compare this dilemma the same as whether to accept promotion at job or take up a new well paid job. The advice is, decide on a combination of the two.

Many term policies can be renewed without providing evidence of good health until a specified age. However, because of increased risk of death as one grows older, renewal premiums are higher than previous premiums.

Permanent life insurance, sometimes also called as whole life insurance or straight life insurance is a protection for entire lifetime. One can choose to pay a premium that does not rise as one grows older, averaging the cost of policy over all lifetime. Whole life insurance has a cash value that grows over the years with taxes deferred. If you cancel the policy, you are paid a lump sum. At retirement, it comes in handy as supplement retirement income.

The bottom line is that there are many factors to be taken into consideration when deciding on the type of insurance best for your needs. Call us or come to LifeQuotesHere.com to make a final decision.