As an adult, you should be responsible for your health, finances, and future. You might also need to shoulder additional duties and responsibilities if you’re the family’s breadwinner.
Aside from starting a savings account, one of the ways you can become a responsible adult is by getting life insurance. Obtaining a life insurance plan will allow you to secure your and your loved ones’ financial future no matter what happens.
While you’re browsing through the various options of life insurance plans offered by different companies, you might have encountered the terms whole life insurance, term insurance, and VUL. You might also be asking yourself “What are the differences between term and whole life insurance? What is VUL, and how is it any different?”
To help you decide which insurance plan to get, here is a comparison between whole life insurance vs. term insurance vs. VUL: