9a72b4b2_rance_and_whole_life_insurance__Whole_of_Life_Insurance
[Sl. No] 4 [Term Insurance] Usually used to cover mortgages, business loans, or time defined goals like children’s education or marriage, for a term less than 20 years. Highly recommended for people who are old and want to supplement an existing, whole of life plan Critical Illness and permanent total disability are the only riders available on a term plan [Whole of Life Insurance] 
Used for long term insurance needs, like family protection or personal life cover. Preferred by business owners / partners as Key Man Insurance to protect their business, as a retirement age for partners or owners cannot be defined. Also preferred by young people, who are looking for a long term cover, to protect against loss of income due to death, disability and critical illness. Used widely for estate planning, and by investors having multiple property investments and mortgage more than 20 years
Difference between term insurance and whole life insurance
Whole of Life Insurance