Archive for the Whole Life Category
December 17, 2009 | Whole Life | Pamela Spencer | No Comments
Whole life insurance serves two purposes. In cases where the contract owner dies it provides a certain death benefit, which is the major benefit that term life insurance provides. However it also can serve as a savings and investment vehicle for policy owners due to the fact these policies build up cash value. A whole life policy, depending on what type you buy, may build up cash value fairly quickly into your whole life policy. This enables you to either borrow against your cash value at a low interest rate, or surrender the policy to get the cash value out.
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December 14, 2009 | Featured, Term Life, Whole Life | Pamela Spencer | No Comments
Whole life insurance, just like term life insurance, pays out following the insured’s death. However, these two kinds of insurance are quite different in several ways. Term life is usually a lot less expensive because the protection is temporary. On the other hand, whole life has higher premiums but also provides protection over your entire life. Because whole life is more expensive, shouldn’t you just buy term policies in a series rather than purchasing whole life insurance?
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December 5, 2009 | Featured, Whole Life | Pamela Spencer | No Comments
A premium is the payment that you pay to an insurance company to obtain and maintain an insurance policy. If you fail to make your premium payments, your policy can end up being terminated. Usually when a policy gets terminated for failing to pay the premiums, you will end up with nothing.
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November 23, 2009 | Featured, Whole Life | Pamela Spencer | No Comments
The life insurance companies have special language that they use, which can potentially confuse the average person when they are shopping for insurance. Whole life insurance can be especially confusing and has its own set of common terms. Here is a glossary to help you become familiar with some of the terms related to whole life insurance.
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October 12, 2009 | Featured, Whole Life | Pamela Spencer | No Comments
Here is a brief breakdown of the different whole life insurance policy types that are currently available. The two major whole life insurance categories are non-participating and participating. Within these two main categories there are these whole life insurance sub-categories.
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September 25, 2009 | Featured, Whole Life | Pamela Spencer | No Comments
When it comes to whole life insurance, there are seven different types and each type is different from the others. Two forms of whole life insurance are very different and may have an impact on how life insurance will work for you.
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September 21, 2009 | Featured, Term Life, Whole Life | Pamela Spencer | No Comments
Term life insurance basically means what is implied by its name: it is insurance whose coverage is valid for only a certain amount of time that is outlined in the insurance policy. Whole life insurance also basically means what the name implies: it is insurance whose coverage is for the entire duration of an individual’s life and pays out upon the death of the covered individual. When it comes to term life insurance, only about two percent of these policies pay out a death benefit, which makes them more lucrative for insurance companies and less expensive for individuals who are looking for this kind of insurance.
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September 19, 2009 | Featured, Term Life, Whole Life | Pamela Spencer | No Comments
If you happen to be single right now you may not think that life insurance applies to your life at the moment. However, if something should ever happen to you there will be someone who will be burdened, either financially or in some other way, with being responsible for your funeral. Additionally, life insurance is one of those things that follows you throughout your life, so the earlier you are able to get it the better off you will be later. Let’s examine the reasons why life insurance really can be a good idea for you, and also how you can choose between term life and whole life insurance.
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September 15, 2009 | Featured, Whole Life | Pamela Spencer | No Comments
While it is true that you can take loans out against your policy for whole life insurance, there are alternative methods that you can tap into your policy without having to reduce your death benefit. Depending on what the terms are on your policy and your insurance company, you might have an option for withdrawing dividends on an annual basis or to reinvest them back into your policy which raises the death benefit.
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August 22, 2009 | Featured, Whole Life | Pamela Spencer | No Comments
At any time there are several things that could potentially happen to an individual. Life by its very nature is unpredictable and can leave people feeling vulnerable and unbalanced. They are unsure of how things really are and often do not know how to cope when unexpected events occur in their life. It can be very stressful when these things happen. Just the fact that it comes unexpected can in itself be a problem, as people find they need to adjust as soon as possible to the misfortune. Many unexpected events have negative consequences and can be very inconvenient.
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