Is the Payout for Term Life Insurance the Same as for Permanent Life Insurance?

One of the features of a permanent life insurance policy is that it has a built in cash accumulation vehicle

. In essence, cash accumulation forces the insured to self-insure. This feature itself makes this type of insurance program substantially more expensive than any term life insurance program that offers the equivalent coverage at the same point in time in the insured's life.

Is the Payout for Term Life Insurance the Same as for Permanent Life Insurance?

By: Wendy Moyer

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