Filed Under:Life Insurance, Sales Strategies

When to Buy Term-Life Insurance (Fox Business)

In some cases, a term life insurance policy could make better financial sense than a whole life policy, experts say. Clients who only want a death benefit should opt for term life. “It’s better to have adequate coverage through a term policy than not enough coverage in a whole life policy,” said John Thornton, executive vice president, Amalgamated Life. Because term policies are almost impossible to get after age 65, and pretty cheap before age 50, says Thornton, younger clients should lean toward a term policy. Clients could take the savings from a term policy over a whole life policy and put it into a growth stock mutual fund and receive a better return, said Chris Hogan, lead financial counselor, The Lampo Group. And clients who like versatility can upgrade or change to a new term policy without a medical exam, Thornton said. 

Read the story.

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting


Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.