Whole Life Insurance: Advice You Can Trust

Here is the whole life insurance advice you’ve been looking for. Insurance can be complicated and so we’ve put together the answers to some of the most common questions. Finally whole life insurance advice you can trust.

What is Whole Life Insurance?

Whole life insurance is permanent insurance, which means it provides insurance for your entire life. If you are looking for long term life insurance goals the best whole life insurance advice you can get is to seek out this type of policy.

Which Costs More, Whole Life or Term Life Insurance?

Whole life premiums are higher than term life; however, you are also covered for your entire life. With term life each time the term renews the premiums go up so in the end it costs more than whole life. Some good whole life insurance advice is to compare premium rates between different providers.

What is a Participating and Non Participating Whole Life Insurance Policy?

A participating whole life insurance policy pays dividends if there is a good return on the investment. These dividends are commonly used to reduce the premium. A non participating policy has premiums but they never change throughout the life of the policy. Some excellent whole life insurance advice is to choose the participating policy.

What’s the Difference Between Whole Life and Term Life?

The biggest difference between whole life insurance and term life insurance is the length of time you are insured for. With whole life insurance you are ensured for your entire life. With term life insures you for are insured for a specified period of time, that expires by a certain age (usually 75) and if you have not died there is no payout. Some sound whole life insurance advice is to explore both options carefully.

What's the Difference Between the Face Amount of a Policy and the Cash Value?

The face amount is the amount that your beneficiary is paid if you die. The cash value is the amount of money that builds within the policy as you pay your premiums. If you surrender your whole life policy you would be paid out the cash value it has earned. Good whole life insurance advice is to keep tabs on this cash value and see how quickly it builds

Some Real Whole Life Insurance Advice

The best whole life insurance advice you could get, is to take the time to understand the real differences between whole life and term life so that you purchase the right insurance.

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