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SVTPerformance's Chain of Restaurants
Road Side Pub
Whole life insurance
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<blockquote data-quote="ZEN357" data-source="post: 15905979" data-attributes="member: 190485"><p>My Father was an insurance agent for over 30 years so I can answer your question to the best of my ability. Term - is exactly what it says, Term, you pay your premium for lets say 30 years, at the end of 30 years of you haven't died you have nothing. The term runs out and the insurance ends. Whole - you pay into it. Let says you have $50,000 whole life, you make payments until the $50,000 is paid of or you die. At the end when you die your beneficiary gets $50,000. If you die before you pay the $50,000 off your beneficiary still gets $50,000. Make sense?</p></blockquote><p></p>
[QUOTE="ZEN357, post: 15905979, member: 190485"] My Father was an insurance agent for over 30 years so I can answer your question to the best of my ability. Term - is exactly what it says, Term, you pay your premium for lets say 30 years, at the end of 30 years of you haven't died you have nothing. The term runs out and the insurance ends. Whole - you pay into it. Let says you have $50,000 whole life, you make payments until the $50,000 is paid of or you die. At the end when you die your beneficiary gets $50,000. If you die before you pay the $50,000 off your beneficiary still gets $50,000. Make sense? [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Whole life insurance
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