Converting from term to permanent policy

Converting from term to permanent policy

http://insureme.us/converting-term-permanent-policy/

Perform a mini-need study. Take the time to find out your ideal policy, it vary on individual needs.  If you’re young, insurance is the last thing you’ll think of purchasing, but how about helping your parents.  If you’re married, you think of your spouse and children if ever you go back to God’s loving arm.  How about when you die, funeral cost is very expensive and you don’t want to leave your family savings at stake. If you want to have pension, then figure how insurance will help you. To term or to perm.

Bankrate.com explains the coverage of each policy. Term insurance provides coverage for a predetermined period of time. Permanent life insurance offers coverage for an open-ended period of time, as long you continue to pay the premiums. The premiums are higher than those of term insurance, but these products also accumulate a cash value that the policyholder can borrow against or receive upon surrendering the policy.