82 | Basic Financial Literacy pthorloicuiegsh iannsdureaxnpcleo.ring the concept of self-banking W HOLE L IFE VS . T ERM I NSURANCE P OLICIES Whole Life Insurance is akin to a long-term sav- iunmg ss , ma ne cdh at hnei s mp o. l Ii ct yi npvrool vv iedse ps aay i dn eg a rt he g bu el anre fpi tr eamn id- av ci dc eu mt aux l abteense cf iat ss hf ovratl hu ee porveemr itui mmes . aI nt dmtaayx -af rl seoe pp rr oo -- cc eoemdpso nteon t oy fofue rr s tbheenfel ef ixciibairl ii teys .t o Tbhoer r o cwa sahg a i nv satl ui te, sy eoruv oi npgt taos baonr r aodwd if trioomn ayl ofui nr apnocliiac ly ’rsecsaosuhr cvea. l uWe ,hi et ’ns important to treat it responsibly. Term Insurance, in contrast, is more like a tem- pt eorrma r, ys uscohl uatsi ot en n. Iot r ot fwf eerns t yp ryoetaercst.i oI tn’ s ftoyrp iac aslpl ye cmi foi er de as af fvoirndgasb el el e tmh ea nn t .wOhnocl ee ltihf ee itnesrumr aenncde s b, us ot ldaoc ke ss tt hh ee cs po ve ne rt a(gyeo, ua dn od na ol l ttgheet mi t obnaecyk )y. oTuh ihsatveen dp sa itdo ibnei smjourset u ga se g f e u . l for younger families with children and a mort- S ELF -B ANKING T HROUGH I NSURANCE v b a o l r u T r e h o w i o s f i a n y g n o a o u i v n r a s w t t i v h th e o i l a s e p a p li c r f c e o u a i m c n h s u u l i a n r t a v e n o d c l v e v e a s p l o u u l s e i i c , n y e g . f f Y t e h o c e u t i c v c a e a s l n h y granting yourself a loan. Be aware that you have to
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