WholeLifeQuotes.com
Whole Life Insurance Benefits:
- Fixed premiums that will not increase
- A guaranteed death benefit payout
- Cash value that is guaranteed to grow each year -Tax deferred
Life insurance comes in two basic forms: term insurance and permanent insurance. Unlike permanent life insurance that can be in force for an insured’s entire life, term life insurance is temporary. Term life insurance pays a death benefit to the beneficiary if death occurs within a specified period, or “term.” If the insured survives the term for which the life insurance was purchased, the policy—unless renewed for an additional specified period—ends without further value.
Permanent life insurance is designed to remain in force for the insured’s life, regardless of how long that life is. In addition to providing a death benefit that is payable to the policy beneficiary upon the insured’s death, permanent life insurance also builds cash values that the policyowner can access while the insured is alive. WholeLifeQuotes.com
The term “permanent life insurance” includes a variety of life insurance policies, including whole life insurance. For many years, whole life insurance was the “flagship” product of the life insurance industry. While whole life insurance continues to be popular with many policyowners, its status as the premier life insurance product has changed with the introduction of other permanent life insurance products. (More...)
|
