Term vs Whole Life Insurance: What Makes Sense for California Families

If you have kids, a mortgage, or someone who depends on your paycheck, you’ve probably been told you need life insurance. Then the real question arrives: term vs whole life insurance. One quote is $40 a month, the other is $500, and the agent across the table has an opinion about which one is “smarter.”

This guide lays out how each type works and what each costs in 2026. It covers what the extra money in a whole life policy actually buys, and the California rules that protect you whichever you choose. You’ll also find two worked examples using San Diego numbers. The goal isn’t to tell you which to buy. It’s to help you walk into that conversation knowing what questions to ask.

A quick note: all figures here are based on publicly available information as of September 2026. Premiums, tax thresholds and insurer dividends change regularly, so treat every number as a starting point, not a quote.

Quick Answer
Term life insurance covers you for a set period, usually 10 to 30 years, and costs far less because it has no savings component. Whole life covers you for your entire life at a level premium and builds guaranteed cash value, but it typically costs roughly 7 to 15 times more for the same death benefit, depending on whose rate survey you read. Many California families with a temporary need, such as a mortgage or children at home, look first at term. Whole life tends to come up when the need is permanent, such as a lifelong dependent or estate liquidity. A licensed agent or advisor can tell you which applies to your situation.

What Is the Difference Between Term and Whole Life Insurance?

Both policies do the same core job. You pay premiums, and if you die while the policy is in force, your beneficiaries receive a death benefit. The difference is how long that promise lasts and what else you’re paying for.

How term life works

The California Department of Insurance (CDI) describes term insurance as coverage for a specified period. That might be one year, a set number of years such as 10 or 20, or up to a specified age. If you die during the term, the insurer pays the face amount. If you outlive it, no benefit is paid and the policy usually has no cash value.

CDI also points out a detail many buyers miss. Today’s term policies usually show two sets of premiums: a guaranteed maximum and a lower current premium. The insurer can raise the current premium, but never above the guaranteed maximum printed in the policy. On a “level term” policy the premium is typically locked for the whole term, but it’s worth reading which figure is guaranteed.

Some term policies can be converted to permanent coverage up to a specified age without a new medical exam, according to CDI. The converted premium will usually be higher.

How whole life works

Whole life is designed to last your entire life. To keep the premium level, CDI explains, you overpay in the early years compared with the actual cost of insuring you. That extra builds a reserve, known as cash value, which helps carry the policy later when the true cost of covering an older person rises above your premium.

Some whole life policies require premiums for a set number of years. Others require them for life. That choice changes the monthly cost dramatically, which matters when you compare quotes.

Where universal life fits

Universal life sits between the two. CDI describes it as the most flexible type because it treats premium, death benefit and cash value separately, letting you change or skip payments. That flexibility carries a risk: if a universal policy is underfunded, its cash value can run out and the policy can lapse. This article focuses on term and whole life, but expect to hear about universal life when you shop.

Term vs Whole Life Insurance: Side-by-Side Comparison

Here is how the two stack up on the features families usually ask about. The table draws on CDI’s own comparison of policy types, plus the policy features described above.

Feature	Term life	Whole life
How long it lasts	A set period (commonly 10–30 years) or to a set age	Your entire life, as long as premiums are paid
Premium	Low; level during the term, much higher if renewed later	Level; set when you buy
Cash value	None	Yes, with guaranteed growth; you don’t choose investments
Policy loans	No	Yes, against cash value
Dividends	Rarely relevant	Possible on “participating” policies; not guaranteed
If you stop paying	Coverage generally lapses with nothing back	Cash value may be available, minus surrender charges and loans
Typical use	Income replacement, mortgage, kids’ years at home	Lifelong needs, estate liquidity, lifelong dependents

The most important row is the first one. Term insurance is priced to expire before most people die, which is exactly why it’s cheap. Whole life is priced knowing the insurer will almost certainly pay a claim eventually.

What Term and Whole Life Cost in 2026

Every quote depends on your age, health, tobacco use and the insurer. Still, published averages show the size of the gap.

Two rate surveys, two different answers

The table below shows annual premiums for a $500,000 policy for nonsmokers. The term figures are for a 20-year term. The two sources disagree noticeably, and the reason is methodology, not error.

Age / sex	NerdWallet: 20-yr term	NerdWallet: whole life	MoneyGeek: 20-yr term	MoneyGeek: whole life
30, male	$213	$2,207	$456	$5,136
30, female	$182	$1,929	$372	$4,860
40, male	$321	$3,180	$708	$6,888
40, female	$278	$2,849	$564	$6,480
50, male	$810	$4,983	$1,644	$10,344
50, female	$636	$4,317	$1,224	$7,896

MoneyGeek publishes monthly figures; these are multiplied by 12.

NerdWallet’s figures come from LifeStein.com data valid as of August 1, 2026. They average the lowest three rates at each age for preferred applicants in good health. MoneyGeek’s figures, updated September 14, 2026, average quotes from 30 insurers for nonsmokers in average health. MoneyGeek also notes it used rate-curve modeling to fill gaps where quote volume was thin.

So NerdWallet shows roughly what a healthy shopper who compares carefully might find. MoneyGeek shows something closer to a typical price across the market. Your quote will likely land somewhere around or between them.

There is a second wrinkle with whole life. NerdWallet notes that whole life premiums are often paid until a set age, like 65, and that its figures exclude paid-up-in-full options. Payment periods vary by policy, so two whole life quotes can differ simply because one is payable to 65 and the other to age 100. Always ask what payment period a quote assumes.

What the gap looks like in dollars

Whichever source you use, the multiple is large. Whole life runs roughly 9 to 11 times the term price in MoneyGeek’s data and 6 to 11 times in NerdWallet’s, depending on age and sex.

MoneyGeek puts it plainly for a 40-year-old nonsmoking man with $500,000 of coverage. He pays $59 a month for 20-year term versus $574 for whole life, a difference of $515 a month or $6,180 a year.

Age raises both prices

Waiting costs money with either type. In MoneyGeek’s data, 20-year term for a nonsmoking man rises from $59 a month at 40 to $137 at 50. Whole life for the same man climbs from $574 to $862. Health changes can also push you into a more expensive rating class, or out of eligibility entirely.

Where Whole Life’s Extra Money Goes: Cash Value, Dividends and Loans

The higher premium isn’t simply profit for the insurer. It pays for lifetime coverage and funds a savings-like account inside the policy. Understanding the pieces helps you judge whether they’re worth it to you.

Cash value

Part of each whole life premium builds cash value, which grows on a guaranteed schedule set in your contract. CDI suggests asking the agent to show how cash value is calculated, based on the policy’s guaranteed values rather than projections.

CDI is also blunt about early exits. Buying cash value insurance is not a good idea if you plan to surrender early, because surrender penalties can be substantial. Its glossary notes that surrender fees usually apply within roughly the first seven or eight years.

Dividends

“Participating” whole life policies from mutual insurers may pay dividends. For example, Northwestern Mutual announced an expected $9.2 billion dividend payout for 2026. Close to $7.9 billion of that is expected to go to whole life policyowners, who can take it in cash, reduce premiums, or buy paid-up additional insurance.

The same announcement states that the dividend scale is reviewed annually and that future dividends are not guaranteed. A sales illustration that assumes today’s dividend rate for 40 years is showing one possible outcome, not a promise. CDI makes the same point: actual results may be better or worse than non-guaranteed amounts, but not worse than the guaranteed ones.

Policy loans and taxes

You can borrow against cash value at the interest rate specified in the policy. Any unpaid loan is deducted from the death benefit or surrender value, according to CDI.

CDI also warns that letting a policy lapse or surrendering it may create a taxable event and generate a Form 1099. Northwestern Mutual’s disclosures add that using cash value through loans or withdrawals reduces the death benefit and can trigger an unexpected tax bill. Those disclosures also assume the policy is not a “modified endowment contract” (MEC). If you plan to put extra money into a policy, ask a tax professional whether it could become a MEC.

Who Each Type Tends to Suit

No policy is right for everyone. The honest answer depends on how long you need coverage and what else your money could be doing.

When term is often the first stop

Term tends to fit needs that have an end date. Common examples are raising children until they’re independent, paying off a 30-year mortgage, or replacing income until retirement savings can support a surviving spouse.

It also fits tight budgets. For the price of a modest whole life policy, many families can buy several times more term coverage. That matters in San Diego, where the debt a survivor inherits can be large.

Term is a weaker fit if you’ll still need coverage in your late 70s or 80s. Renewing or buying new coverage at that age can be very expensive, or impossible if your health has changed.

When whole life comes into the conversation

Whole life tends to come up when the need is permanent. Examples include a child with a disability who will need support for life, a business partner buyout, or covering final expenses regardless of when death occurs. CDI’s guide also lists paying estate taxes and other final obligations among the reasons people buy life insurance.

Some people value the forced savings and guarantees. They like that cash value won’t fall in a market crash. MoneyGeek’s analysts suggest whole life makes the most sense for buyers who have already maxed out other tax-advantaged accounts, need permanent estate planning coverage, or want a savings component that won’t lose value in a downturn.

Whole life is usually a weaker fit if the premium would crowd out retirement contributions or an emergency fund. It is also a poor fit if there’s a real chance you’ll drop the policy in the first several years.

The blended approach

Many families don’t choose one or the other. A common pattern is a large term policy for the years when needs peak, plus a smaller permanent policy for needs that never go away. A licensed agent can model how different mixes fit your budget.

California Rules That Protect Policyholders

California adds consumer protections that don’t exist in every state. These apply to both term and whole life.

California rule	What it says	Why it matters
60-day grace period (Ins. Code §10113.71)	Policies must allow at least 60 days after a missed premium, and coverage stays in force during that time	A missed payment doesn’t instantly end coverage
Lapse notice and designee	A lapse notice isn’t effective unless mailed to the owner and any designee at least 30 days before termination	A family member can be warned before a policy dies
Free look period	At least 10 days to return an individual policy for cancellation; at least 30 days for senior citizens and for replacement policies	Time to review the contract after it arrives
Guarantee association	Limited protection if a California-licensed life insurer fails	A safety net, not a reason to ignore insurer strength
Group life conversion	Employer group life must be convertible to permanent coverage when your group coverage ends	Leaving a job doesn’t automatically mean losing insurability

The 60-day grace period and lapse designee

Under California Insurance Code section 10113.71, every life policy issued or delivered in the state must include a grace period of at least 60 days from the premium due date. The policy stays in force during that time. A notice of pending lapse is only effective if mailed at least 30 days before termination to the owner, to any designee the owner named, and to any known assignee.

This is worth knowing because CDI’s own consumer glossary describes a grace period as “usually 31 days.” That wording reflects older, national practice. California’s statute sets the floor at 60. If you’re caring for an aging parent, naming yourself as their lapse-notice designee is a simple safeguard.

Free look rights

CDI’s guide explains that every individual life policy must include a notice allowing you to return it for cancellation within a period of no less than 10 days and no more than 30 days after you receive it. Senior citizens must get at least 30 days. If the policy replaces an existing one, the new insurer must give you an unconditional refund right for 30 days from delivery.

Guarantee association limits

If a California-licensed life insurer becomes insolvent, the California Life and Health Insurance Guarantee Association can step in. According to the law summary published by the National Organization of Life & Health Insurance Guaranty Associations, coverage is capped at the lesser of 80% of the contractual obligation or $300,000 in death benefits per life. Cash surrender value is capped at $100,000, and total life and annuity benefits at $300,000 per life.

The same summary says dividends are excluded from coverage. For a large whole life policy, that is one more reason to check an insurer’s financial strength ratings, which CDI recommends doing with more than one rating agency.

Group life conversion

CDI notes that under California law, group life insurance must be convertible to permanent insurance when your group coverage ends. The converted policy will probably cost much more. Still, it can be valuable if your health has changed since you were hired.

Taxes: Federal Rules and What’s Different in California

Tax treatment is similar for both policy types. The differences show up mainly with cash value.

The death benefit

The IRS says life insurance proceeds received as a beneficiary because of the insured person’s death generally aren’t included in gross income. Interest paid on those proceeds, for example when a benefit is paid in installments, is taxable. Different rules can apply if the policy was sold or transferred to you for value.

Federal estate tax in 2026

For people who die in 2026, the federal estate tax basic exclusion amount is $15,000,000, up from $13,990,000 in 2025, according to the IRS. Most San Diego families are well below that line. Buying whole life purely to pay federal estate tax is a planning tool mainly for very large estates, where an estate planning attorney would be involved anyway.

No California estate or inheritance tax

The California State Controller’s Office says no California estate tax return is required for anyone who died on or after January 1, 2005. The state’s inheritance tax applies only to people who died before June 8, 1982.

Community property and beneficiary designations

California is a community property state. Family Code section 760 says property acquired by a married person during marriage while living in California is generally community property. Premiums paid from wages earned during marriage can give a spouse an interest in a policy, even if someone else is named as beneficiary. If you’re considering naming anyone other than your spouse, or you have children from a previous relationship, an estate planning attorney can explain how this applies to you.

The San Diego Picture

National rate tables don’t reflect how much coverage a San Diego household might need. Local costs are what make the term vs whole life question sharper here.

Home prices set the scale

The California Association of Realtors reported a median price of $1.099 million for an existing single-family home in San Diego County in July 2026. The statewide median was $887,680. CAR also reported that 30-year mortgage rates averaged 6.54% that month.

A family carrying a mortgage in the high six or seven figures may need a death benefit several times larger than the national “average” examples. At those amounts, the price gap between term and whole life grows from hundreds of dollars a month to over a thousand.

Military families

San Diego is home to one of the largest concentrations of service members in the country. Servicemembers’ Group Life Insurance (SGLI) is group term life coverage of up to $500,000. Since July 1, 2025, the premium has been $0.05 per $1,000 of coverage, so the maximum costs $25 a month plus $1 for traumatic injury protection, according to a VA announcement published by the U.S. Air Force benefits office.

Because SGLI is term coverage tied to service, many military households think about what happens after separation. Options include converting to Veterans’ Group Life Insurance or buying private coverage while still young and healthy. Our separate guide on SGLI, VGLI and private term options goes deeper on this.

Employer coverage in biotech, defense and tech

Many San Diego employers in biotech, defense contracting and tech offer group life coverage, often around one or two times salary. It’s cheap and convenient, but it’s usually term coverage that ends or must be converted when you leave. Relying on it alone is risky if you might change jobs or start a business.

Worked Examples for San Diego Households

These examples use MoneyGeek’s published average rates for nonsmokers in average health. The families are hypothetical. Your own quotes could be higher or lower.

Example 1: A Mira Mesa couple, both 40, two young kids

Daniel and Ana are both 40, earn a combined $160,000, and have children aged 4 and 7. They each want $1,000,000 of coverage. That would pay off most of their mortgage and replace several years of income if either died.

Using MoneyGeek’s $1 million rates:

20-year term: $109 a month for Daniel and $86 for Ana, or $195 a month ($2,340 a year) combined. Coverage runs until the youngest child is 24.
Whole life: $1,115 a month for Daniel and $1,065 for Ana, or $2,180 a month ($26,160 a year) combined.

For most households at this income, the whole life figure would consume a large share of take-home pay. That’s why many families in this position start by sizing term coverage to the need.

Some consider a blend instead. In MoneyGeek’s data, adding $100,000 of whole life for each spouse costs $130 a month for Daniel and $127 for Ana. Paired with the $1 million term policies, that brings the total to about $452 a month.

You’ll often hear the phrase “buy term and invest the difference.” Here is what the math looks like using MoneyGeek’s $500,000 figures for a 40-year-old man. The $515 monthly difference ($6,180 a year) adds up to $123,600 in contributions over 20 years.

If that amount were invested every year and earned a hypothetical 3% annually, it would grow to about $166,000 after 20 years. At a hypothetical 5%, it would reach about $204,000. Those numbers ignore taxes and fees, and they assume the money is actually invested every year, which many people don’t manage.

The fair comparison is against the guaranteed and non-guaranteed cash value shown on a real whole life illustration at year 20. A fee-only advisor can run that comparison with actual quotes.

Example 2: A Rancho Bernardo parent, 60, with an adult son who has a disability

Linda is 60 and widowed, and her home is paid off. Her 28-year-old son has a developmental disability and will likely need support for life. She wants $250,000 to fund a special needs trust after her death.

Using MoneyGeek’s $250,000 rates for a 60-year-old woman:

20-year term: $157 a month ($1,884 a year). Total paid by age 80 would be $37,680, but coverage then ends.
Whole life: $665 a month ($7,980 a year). Total paid by 80 would be $159,600. By 90 it would be $239,400, assuming premiums are payable for life. Dividends, if any, could offset some cost but aren’t guaranteed.

Here the need doesn’t expire, and term coverage would stop at exactly the age when a claim becomes more likely. That is the kind of situation where permanent coverage often enters the conversation.

The trade-off is still real. If Linda lives into her 90s, she may pay close to the death benefit in premiums. She’d want to compare policies with shorter payment periods, and confirm how the trust should be named as beneficiary with an attorney.

How to Compare Policies Step by Step

Estimate the need and how long it lasts. CDI suggests weighing your dependents, their support costs, education needs, income, assets and debts. Write down which needs end (mortgage, childcare) and which don’t.
Set a monthly budget first. CDI’s guidance is to pick a coverage amount, decide what you can afford, then choose the policy type that fits both.
Get several quotes for the same amount. MoneyGeek found that the cheapest and most expensive insurer for a 40-year-old man’s $500,000 term policy differed by about $30 a month.
For whole life, ask for guaranteed values. Compare the guaranteed cash value columns, the payment period, and the surrender charge schedule.
Check the agent and insurer. CDI’s hotline (800-927-4357) and online license lookup can confirm an agent is licensed. Check the insurer’s financial strength ratings too.
Use your free look. Read the delivered policy carefully and return it within the free look window if it isn’t what you were promised.

Common Mistakes and Money-Saving Tips

Replacing a policy without a second opinion. CDI lists real risks of replacement: paying start-up costs again, a new one- or two-year contestable period, and higher premiums because you’re older. CDI also warns to be wary of any agent who suggests using your current policy’s cash value to fund a new one, or who tells you not to talk to your current insurer.

Buying whole life you might drop. Surrender charges in the early years can mean getting back far less than you paid.

Choosing a term length that’s too short. For buyers under 45 with a mortgage or dependents, MoneyGeek notes a 30-year term costs more but avoids buying new coverage at 60 or 70.

Skipping the medical exam when you’re healthy. In MoneyGeek’s data, a healthy 40-year-old man pays $63 a month for no-exam term versus $59 with an exam.

Smoking. MoneyGeek found a 40-year-old male smoker pays $194 a month for $500,000 of 20-year term, compared with $59 for a nonsmoker.

Forgetting the paperwork. Keep beneficiaries current, especially after marriage, divorce or a new child. Name a lapse-notice designee, and store the policy where family can find it.

Frequently Asked Questions

Is term or whole life insurance better for a family?

Neither is better in every case. Term usually costs far less and fits needs with an end date, such as a mortgage or children at home. Whole life lasts for life and builds guaranteed cash value, but it costs many times more for the same death benefit. Many families compare the length of their need against their budget. A licensed agent or advisor can tell you which approach fits your situation.

How much more does whole life cost than term in 2026?

It depends on age, sex, health and the rate source. For a 40-year-old nonsmoking man with $500,000 of coverage, NerdWallet reports $321 a year for 20-year term versus $3,180 for whole life. MoneyGeek reports $708 versus $6,888 a year. NerdWallet averages the three lowest preferred-class rates, while MoneyGeek averages 30 insurers for average health.

Can I convert term life to whole life later?

Often, yes. CDI notes that some term policies can be converted to permanent coverage up to a specified age without a new medical exam, though the new premium will usually be higher. Conversion rules, deadlines and eligible products vary by insurer. Check your policy’s conversion provision before the deadline passes, especially if your health has changed since you bought it.

Are life insurance payouts taxable in California?

Generally not. The IRS says death benefits paid because of the insured’s death usually aren’t included in gross income, though interest on the proceeds is taxable. California has no estate or inheritance tax for deaths after 2005. Very large estates may face federal estate tax above the $15 million 2026 exclusion. A tax professional can confirm your situation.

What happens if I miss a life insurance payment in California?

California law requires a grace period of at least 60 days after the premium due date, and the policy stays in force during that time. The insurer must mail a lapse notice to you and any designee you named at least 30 days before coverage ends. Naming a trusted family member as designee adds a layer of protection.

Are whole life dividends guaranteed?

No. Mutual insurers may pay dividends on participating whole life policies, but the amount is set each year. Northwestern Mutual, for example, expects to pay $9.2 billion in total dividends in 2026, but its own disclosures state that future dividends are not guaranteed. When reviewing an illustration, focus first on the guaranteed columns rather than projected dividends.

Is my life insurance protected if my insurer fails?

Partly. California’s Life and Health Insurance Guarantee Association covers policies from licensed member insurers, up to the lesser of 80% of the contractual obligation or $300,000 in death benefits per life. Cash surrender value is capped at $100,000, and dividends aren’t covered. Checking an insurer’s financial strength ratings before you buy is still worthwhile.

Is employer life insurance enough for a San Diego family?

For many families it isn’t, on its own. Group coverage is often a multiple of salary and ends or must be converted when you leave the job. With San Diego’s median single-family home price near $1.1 million in July 2026, a surviving spouse may face a much larger mortgage than workplace coverage can pay off. Many families add an individual policy.

Conclusion

The term vs whole life insurance decision comes down to two questions: how long your family will depend on the money, and what you can comfortably pay every month for as long as the policy requires. For temporary needs, term buys the most protection per dollar. For needs that never go away, whole life offers guarantees that term can’t match, at a much higher price.

A clear next step is to write down your family’s needs and how long each lasts. Then request quotes for the same coverage amount from at least three insurers, and review them with a licensed agent or fee-only advisor. You can confirm any agent’s California license through CDI at 800-927-4357 before you sign.

Sources

California Department of Insurance — “Life Insurance Guide” — https://www.insurance.ca.gov/01-consumers/105-type/95-guides/07-life/life-ins-guide.cfm — accessed September 22, 2026
Justia (California Insurance Code) — “California Insurance Code § 10113.71 (2025)” — https://law.justia.com/codes/california/code-ins/division-2/part-2/chapter-1/article-1/section-10113-71/ — accessed September 22, 2026
Internal Revenue Service — “Life Insurance & Disability Insurance Proceeds” (FAQ) — https://www.irs.gov/faqs/interest-dividends-other-types-of-income/life-insurance-disability-insurance-proceeds/life-insurance-disability-insurance-proceeds — accessed September 22, 2026
Internal Revenue Service — “IRS releases tax inflation adjustments for tax year 2026, including amendments from the One, Big, Beautiful Bill” (IR-2025-103) — https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2026-including-amendments-from-the-one-big-beautiful-bill — accessed September 22, 2026
California State Controller’s Office — “California Estate Tax” — https://sco.ca.gov/ardtax_estate_tax.html — accessed September 22, 2026
National Organization of Life & Health Insurance Guaranty Associations — “California Life & Health Insurance Guarantee Association” law summary — https://legalseminar.nolhga.com/factsandfigures/main.cfm/location/statedetail/stateID/5 — accessed September 22, 2026
NerdWallet — “Average Life Insurance Rates for 2026” — https://www.nerdwallet.com/insurance/life/learn/average-life-insurance-rates — accessed September 22, 2026
MoneyGeek — “Average Life Insurance Cost in 2026” — https://www.moneygeek.com/insurance/life/rates/ — accessed September 22, 2026
Northwestern Mutual — “Northwestern Mutual Announces Historic $9.2 Billion Dividend Payout in 2026” — https://news.northwesternmutual.com/2025-10-28-Northwestern-Mutual-Announces-Historic-9-2-Billion-Dividend-Payout-in-2026-A-Powerful-Demonstration-of-Companys-Enduring-Commitment-to-Policyowners — accessed September 22, 2026
U.S. Air Force (MyAirForceBenefits) — “Life insurance premiums discounted for service members, spouses and Veterans” — https://myairforcebenefits.us.af.mil/Life-insurance-premiums-discounted-for-service-members-spouses-and-Veterans — accessed September 22, 2026
KPBS / City News Service — “San Diego County home prices rise, sales decline in July” — https://www.kpbs.org/news/living/2026/08/17/san-diego-county-home-prices-rise-sales-decline-in-july — accessed September 22, 2026
Justia (California Family Code) — “California Family Code § 760 (2025)” — https://law.justia.com/codes/california/code-fam/division-4/part-2/chapter-1/section-760/ — accessed September 22, 2026

Disclaimer

Disclaimer: This article is for general information and educational purposes only. It is based on publicly available information believed to be accurate at the time of writing, and rates, rules, products and eligibility requirements change frequently. It is not financial, insurance, tax or legal advice, and no advisor-client relationship is created by reading it. We are not licensed financial advisors, insurance agents, tax preparers or attorneys, and nothing here is a recommendation to buy, sell or hold any product, policy or security. Your own situation is different from the examples used here, so please consult a licensed financial advisor, insurance agent, tax professional or attorney before making any decision. We make no warranty as to the accuracy or completeness of the information and accept no liability for any loss arising from its use. Some links may be to third-party sites we do not control.