Insurance
Risk Management: Considerations before choosing Term or Whole Life Insurance plans
By Patrick See  •  June 1, 2011
I have read with interest on the above topic. While much debated, the following is my personal opinion. While opinions differ from Financial advisers, there’s really no right and wrong answer. I hope this article crystallizes the on-going debate choosing between Term or Whole Life Insurance plans.

Before I commence, it would be wise to understand the features of 'Term' and 'Whole Life'. While both are insurance plans, the common monetary benefit is that each provide a coverage/protection for a face value (required amount) of x dollars in return by paying a premium for the cost of risk transfer to the insurer.

The Term plan does NOT provide any cash value at the end of the Term while the Whole Life (WL) plan provides a cash value depending on the investment performance of the participating funds. This is the major difference between the two plans.

There is a primary consideration ...
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By Patrick See
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