Term versus whole life insurance Life insurance is a tough subject to think about and can be even more complicated to act on. Like all insurance though, it's a necessary and responsible step to take to protect the life you've built and the people you love. If you're exploring life insurance for the first time or taking a step back to review your coverage, here's a breakdown of term versus whole life insurance. or your spouse were to pass away during the speci- fied timeframe, your beneficiaries would receive the coverage, called "the death benefit." Whole life insurance, on the other hand, which is also referred to as "permanent insurance," lasts for your entire lifetime. As you may have guessed, it costs more, but it's also intended to build cash value. This investment component means the policy will grow slowly, is tax-deferred and can be borrowed against, or surrendered, at any time. It sounds compli cated, but it's actually straightforward: the premium stays the same; the death benefit is guaranteed; and the cash value grows at a predicted rate. Feeling more informed about your life insurance options? At GMG, life insurance is all about helping you make the most of your life while you're here and once you're gone. GMG is an independent insurance and risk management firm, licensed in over 40 states that provides uncompromised coverage for today's modern risks. To start building a custom life insurance plan, contact us at 800-540-7900, contact@gmgins com or visit gmgins.com For people with a retirement plan, term life insur ance, or "pure life insurance," is typically the best way to go. This type of plan provides coverage over a specified timeframe, such as 10, 20 or 30 years. The amount of coverage included in the policy should be aligned with the bills and expenses your family would need to cover without your income. With that, if you GMG Insurance Agency Submitted by GMG Insurance Agency Term versus whole life insurance Life insurance is a tough subject to think about and can be even more complicated to act on. Like all insurance though, it's a necessary and responsible step to take to protect the life you've built and the people you love. If you're exploring life insurance for the first time or taking a step back to review your coverage, here's a breakdown of term versus whole life insurance. or your spouse were to pass away during the speci- fied timeframe, your beneficiaries would receive the coverage, called "the death benefit." Whole life insurance, on the other hand, which is also referred to as "permanent insurance," lasts for your entire lifetime. As you may have guessed, it costs more, but it's also intended to build cash value. This investment component means the policy will grow slowly, is tax-deferred and can be borrowed against, or surrendered, at any time. It sounds compli cated, but it's actually straightforward: the premium stays the same; the death benefit is guaranteed; and the cash value grows at a predicted rate. Feeling more informed about your life insurance options? At GMG, life insurance is all about helping you make the most of your life while you're here and once you're gone. GMG is an independent insurance and risk management firm, licensed in over 40 states that provides uncompromised coverage for today's modern risks. To start building a custom life insurance plan, contact us at 800-540-7900, contact@gmgins com or visit gmgins.com For people with a retirement plan, term life insur ance, or "pure life insurance," is typically the best way to go. This type of plan provides coverage over a specified timeframe, such as 10, 20 or 30 years. The amount of coverage included in the policy should be aligned with the bills and expenses your family would need to cover without your income. With that, if you GMG Insurance Agency Submitted by GMG Insurance Agency