What Is The Major Advantage Of Term Life Insurance? 
That is an excellent question ! There are a couple of advantages to owning a term policy over a whole life policy . The first , and most obvious , is the lower cost . As a rule , the companies rarely have to pay off on these , so they are cheaper . The second is that you can use them to cover for specific needs , for a specific time period , and be done with them . For example , I can take out a 5 year term policy to cover the cost of my child 's college expenses , and in 5 years when I no longer need it , it has ended . There are some drawbacks to these policies also , so please be sure to consult with an agent to be sure that this is the type of policy that will best suit your need , okay ? Thanks for asking ! 