No Load Life Insurance Advantages and Disadvantages

No load life insurance can be a great choice if you are looking for adequate life insurance coverage with a lower monthly premium.  "No load" means there is either a very low or no commission or agent fee added to the annual premium.

Advantages of No Load

The main advantage of this type of life insurance is the lower cost. Because there are no commissions or agent fees added to the premium it typically costs much less than a typical life insurance policy. When purchasing a whole life policy, this allows more of your money to go toward the cash value of the policy.

Disadvantages of No Load

The biggest drawback of no load life insurance is that you have access to far less customer service and consultation, making it possible for you to choose either the wrong kind of insurance for your needs or end up with less insurance than you need to meet your needs.



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