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I have been lately reading about Life insurance and term insurance. Life insurance has been getting a lot of bashing lately so I would like to know few things about them.
1) How does life insurance and term insurance work?
2) What is the duration of payment which is needed for both of them? (how long should one pay for them?)
3) how long will the coverage be applicable if one is covered under life insurance vs term insurance?
4) What are the benefits of life insurance vs term insurance?
5) Taking all the factors and facts including the cost factor, Which is better Life insurance or term insurance ?
Your insight and answer will help many of us here.