Having life insurance in place is very important.  For those that are in the Cincinnati, OH area, one of the first things to do when choosing a new life insurance policy is choosing between whole and term life insurance.  It is very important to understand the differences between these policy types to ensure you make the right choice for your situation.  

Length of Coverage

One of the biggest differences between whole and term life insurance is the amount of time that it will provide you with coverage for.  Whole life insurance is a type of insurance that will provide you with coverage for your entire life.  During this time period, a small portion of your life insurance premiums will accrue and will turn into a cash value that can be liquidated at any time.  Term life insurance, on the other hand, will only provide you with coverage for a certain amount of time and will have no cash value.  

Cost of Coverage

The other major difference between whole and term life insurance is the cost of the coverage.  In general, the cost of term life insurance is much lower than it would be for a whole life insurance policy.  The cost of term life insurance will vary based on your age, current health status, and the length of the term of the policy that you want.  

Since picking the right life insurance policy is such an important decision, those that are in the Cincinnati, OH area should meet with the Advantage Insurance Network to discuss their life insurance needs.  The Advantage Insurance Network is an insurance agent that can help to explain all of your insurance options and help you get into a policy that provides you with the right amount of coverage.