As the name implies, whole life insurance covers the policyholder for his or her whole life. There is no fixed end date for the policy, as there is with term life insurance. When the policy holder dies, the face value of the policy, known as a death benefit, is paid to the person or persons named in the life insurance policy (the beneficiary or beneficiaries).
The cost of a whole life insurance policy is spread out across many years, so the premium remains the same. This ensures that older people on a fixed income will not have to cope with rising premiums.
Unlike term life insurance, whole life insurance accrues cash value over time. If you cancel the policy after a certain amount of time has passed, the insurance company will surrender the cash value to you. The cash value is scheduled to equal the face value when the policyholder reaches the age of 100. If you live that long, the insurance company will likely pay the face value to you in a lump sum.
This is not the only way to use the cash value, however. You can also borrow some of the cash value as a loan. The money has to be paid back, but there is no approval process and no risk of being turned down. You are your own lender. Some whole life insurance pays dividends, so it can be used to supplement your retirement income.
policyholder for his or her whole life. There is no fixed end date for the policy, as there is with term life insurance. When the policy holder dies, the face value of the policy, known as a death benefit, is paid to the person or persons named in the life insurance policy (the beneficiary or beneficiaries).
The cost of a whole life insurance policy is spread out across many years, so the premium remains the same. This ensures that older people on a fixed income will not have to cope with rising premiums.
Unlike term life insurance, whole life insurance accrues cash value over time. If you cancel the policy after a certain amount of time has passed, the insurance company will surrender the cash value to you. The cash value is scheduled to equal the face value when the policyholder reaches the age of 100. If you live that long, the insurance company will likely pay the face value to you in a lump sum.
This is not the only way to use the cash value, however. You can also borrow some of the cash value as a loan. The money has to be paid back, but there is no approval process and no risk of being turned down. You are your own lender. Some whole life insurance pays dividends, so it can be used to supplement your retirement income.
Life Insurance Quotes Wiz is a FREE SERVICE dedicated to helping you with all of your needs for life insurance quotes. We offer access to a Nationwide network of life insurance, term life insurance, whole life insurance, and universal life insurance experts waiting to answer all your questions. Choose from 1000's of life insurance Apolicies available!
Life Insurance - Term Life Insurance - Whole Life Insurance - Life Insurance Quotes Life Insurance Quotes Wiz provides a place to shop in private with no hassles. With a policy in place today, you can:
1. Provide security for your family 2. Protect your home mortgage 3. Look at your estate planning needs 4. Look at other retirement saving & income vehicles People buy life insurance because too often most of their other plans fail. They buy it because they realize the need of protection for their families after their death; or for a reserve for emergencies and additional income for later years. "With premiums for term life insurance at their lowest in years, you can get the right protection and a great value." Consumer Reports. More on term life insurance information!Did you know that a life insurance policy can:
Provide cash and income needs on and immediately following death such as unpaid bills and taxes and other obligations.
Prevent a family's suddenly dropping from its accustomed standard of living after the death of the breadwinner.
1. Provide continuous flow of funds for the living spouse 2 . Allocate income funds for the children's education. 3. Provide a retirement income throughout old age. 4. Provide a reliable savings plan for the future. 5. Supplement income when earning power is destroyed by illness of accidents, such as covering medical expenses. 6. Furnish surplus earnings for the investors should disaster strike.The bottom line is this: While Life Insurance is not always the insurance product at the forefront of your thoughts, Life insurance is always a friend in time of need.
Life Insurance Wiz: Select the type of insurance quotes you're interested in and fill in the insurance quotes form. It takes less time than one phone call to an agent! Within seconds, you'll know the companies who have the best rates based on your profile.
The cost of a whole life insurance policy is spread out across many years, so the premium remains the same. This ensures that older people on a fixed income will not have to cope with rising premiums.
Unlike term life insurance, whole life insurance accrues cash value over time. If you cancel the policy after a certain amount of time has passed, the insurance company will surrender the cash value to you. The cash value is scheduled to equal the face value when the policyholder reaches the age of 100. If you live that long, the insurance company will likely pay the face value to you in a lump sum.
This is not the only way to use the cash value, however. You can also borrow some of the cash value as a loan. The money has to be paid back, but there is no approval process and no risk of being turned down. You are your own lender. Some whole life insurance pays dividends, so it can be used to supplement your retirement income.
policyholder for his or her whole life. There is no fixed end date for the policy, as there is with term life insurance. When the policy holder dies, the face value of the policy, known as a death benefit, is paid to the person or persons named in the life insurance policy (the beneficiary or beneficiaries).
The cost of a whole life insurance policy is spread out across many years, so the premium remains the same. This ensures that older people on a fixed income will not have to cope with rising premiums.
Unlike term life insurance, whole life insurance accrues cash value over time. If you cancel the policy after a certain amount of time has passed, the insurance company will surrender the cash value to you. The cash value is scheduled to equal the face value when the policyholder reaches the age of 100. If you live that long, the insurance company will likely pay the face value to you in a lump sum.
This is not the only way to use the cash value, however. You can also borrow some of the cash value as a loan. The money has to be paid back, but there is no approval process and no risk of being turned down. You are your own lender. Some whole life insurance pays dividends, so it can be used to supplement your retirement income.
Life Insurance Quotes Wiz is a FREE SERVICE dedicated to helping you with all of your needs for life insurance quotes. We offer access to a Nationwide network of life insurance, term life insurance, whole life insurance, and universal life insurance experts waiting to answer all your questions. Choose from 1000's of life insurance Apolicies available!
Life Insurance - Term Life Insurance - Whole Life Insurance - Life Insurance Quotes Life Insurance Quotes Wiz provides a place to shop in private with no hassles. With a policy in place today, you can:
1. Provide security for your family 2. Protect your home mortgage 3. Look at your estate planning needs 4. Look at other retirement saving & income vehicles People buy life insurance because too often most of their other plans fail. They buy it because they realize the need of protection for their families after their death; or for a reserve for emergencies and additional income for later years. "With premiums for term life insurance at their lowest in years, you can get the right protection and a great value." Consumer Reports. More on term life insurance information!Did you know that a life insurance policy can:
Provide cash and income needs on and immediately following death such as unpaid bills and taxes and other obligations.
Prevent a family's suddenly dropping from its accustomed standard of living after the death of the breadwinner.
1. Provide continuous flow of funds for the living spouse 2 . Allocate income funds for the children's education. 3. Provide a retirement income throughout old age. 4. Provide a reliable savings plan for the future. 5. Supplement income when earning power is destroyed by illness of accidents, such as covering medical expenses. 6. Furnish surplus earnings for the investors should disaster strike.The bottom line is this: While Life Insurance is not always the insurance product at the forefront of your thoughts, Life insurance is always a friend in time of need.
Life Insurance Wiz: Select the type of insurance quotes you're interested in and fill in the insurance quotes form. It takes less time than one phone call to an agent! Within seconds, you'll know the companies who have the best rates based on your profile.