Life insurance is important, but many people do not understand how it works. Here you will find a simple explanation of term life and whole life insurance policies, as well as the pros and cons of both.
Two main types of life insurance are term life and whole life insurance. Visit this site to learn the differences between the two, as well as the advantages and disadvantages of each.
With this understanding about how life insurance is priced, I can create a simple model to consider four different potential roles for this whole life insurance policy in retirement income planning.
By Wade Pfau, Contributor. Forbes. Thu, 14 Jan 2021 18:25:53 -0500.