Why Buy a Whole Life Insurance Policy?
Whole life insurance provides a death benefit for the entire life of the policyholder, however, unlike most term life policies, it also has a savings component that accumulates cash value. This cash value can be accessed as a loan to pay expenses like an education or to supplement retirement income. Permanent or traditional life insurance policies are a whole life policy but not the only form of this type of insurance coverage. Several variations of another permanent life policy called universal life are also available.
- Death Benefits: Provides a lump sum payment for the beneficiaries upon the policyholders death
- Cash Value: Cash available as a loan against the policy for many uses including a supplement to retirement income
- Guarantee: Guaranteed lifetime coverage at a level premium with cash value accumulation
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The Benefits of a Whole Life Insurance Policy
High Risk Life Insurance can be affordable if you shop rates and compare companies. It takes only minutes to make an informed decision.
Looking for a life long policy with a level premium, guaranteed benefit and cash value accumulation that is tax deferred? Then a whole life insurance policy is something to look into. The best whole life insurance information and companies can be found here.
- Level Premium, whole life coverage that can have the added benefit of a fixed rate payment made to you quarterly, semi-annually or annually.
- Premiums are level, term unaffected as you age or your health changes or declines
- Cash value or dividends accrue as tax deferred income under present tax law
- Dividends are available as loan, often at a favorable rate for any purpose you choose
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