Paul H. Flowers Jr. breaks down term and whole life insurance: term covers you for 10, 20, or 30 years at the lowest cost, while whole life lasts forever and builds cash value but costs several times more. For most families, term is the better choice. Size your coverage to what your family actually needs to replace.
Nobody teaches you how to buy life insurance, so here it is plain. There are two kinds. Term covers your family for a set number of years—10, 20, 30—at a fixed price. It's the least expensive protection you can buy. Whole life lasts forever and builds cash value, but it costs several times more for the same protection. For most families, protection beats the bundle. And timing matters. The day you find out a baby is coming is the day term insurance matters most. Size it to your take-home pay. The payout usually isn't taxed. You're not insuring your life, you're insuring their future. That's what I teach in Risk Transfer Revolution. I'm Paul H. Flowers Jr.
The Cheapest Claim Is the One That Never Happens | Claims Deflection Explained
