Darcy Bergen upholds a professional duty to counsel clients on the investment and insurance options for their unique circumstances. Darcy is a representative of Horter Investment Management, which offers clients term life insurance and whole life insurance products.

1. Comparing Whole
Life and Term Life
Insurance Policies
Darcy Bergen

2. Introduction
Darcy Bergen upholds a professional duty to counsel clients on the
investment and insurance options for their unique circumstances.
Darcy is a representative of Horter Investment Management, which
offers clients term life insurance and whole life insurance products.
While both insurance types offer a guaranteed payout if the
policyholder dies, term life insurance and whole life insurance have
very distinct features. Many people opt to hold both types of policies
or convert their term life into a whole life policy.
Term life insurance is often sold for periods of five to 30 years. During
this term, the policyholder pays a monthly premium for coverage.

3. Insurance
The conditions expire at the end of the term. Term insurance is
recommended for people with children or a spouse, so that
loved ones will be protected against the loss of income in case
of the policyholder’s death.
Whole life insurance covers policyholders for their entire lives.
In addition to a death benefit, whole life policies have a cash
value that can be used as collateral for loans. The cash value
grows, tax-deferred, at a slow but steady rate, taking 12 to 15
years to accumulate a significant value. Whole life premiums
are generally higher than term life premiums.