Whole Life Insurance

Whole Life Insurance and the Benefits of Cash Value

Jay Maxwell — Fri, 20 Nov 2009 19:17:11 -0800

Whole life insurance, or permanent life insurance, is a complex insurance product because it also has an investment aspect. The policy works by building cash value through a portion of the premium not needed to pay for the cost of the death benefit. The surplus premium amount builds with interest within the policy, and as the cash value increases you can borrow against it or, for a penalty, surrender the policy early.

Whole Life Insurance

admin — Thu, 15 Oct 2009 13:04:00 -0700

Whole life insurance is guaranteed coverage with many benefits.

What is Whole Life Insurance?

Whole life insurance, also called permanent insurance, is a combination of life insurance and investment that lasts your entire life. The life insurance portion is the benefit amount your beneficiaries receive when you die; the investment portion is the portion of your premium that is stored in a cash account. The terms of a whole life policy are set up when the policy is issued.

Whole Life as an Investment

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Whole Life Insurance Explanation: whole life vs. term life

admin — Thu, 15 Oct 2009 11:43:00 -0700

When you are shopping for life insurance, get all the facts so you can make an informed choice between whole life and term life insurance.

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How to Shop for Whole Life Insurance

admin — Mon, 20 Jul 2009 08:18:15 -0700

Whole life insurance plans are much more complicated than term life plans, so the process of finding one can be confusing. Since the insurance company is obligated to pay out benefits on a whole life plan, the terms of the contract can be much more restrictive.

This can all seem a little overwhelming for those who are looking to buy whole life insurance. The best way to start looking is to become familiar with common terms and procedures. Then start considering factors such as budget, coverage amount, and additional benefits.

Understand the Basics

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Life Insurance Basics: What is Life Insurance?

admin — Sun, 24 May 2009 04:45:13 -0700

Life insurance is a contract between an insurance company and a policy owner in which the insurer agrees to pay an amount of money in the event of the insured person’s death or other circumstances like terminal illnesses. The policy payer in return, pays an agreed amount that is called a premium at intervals or lump sums.

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Do You Need Whole Life Insurance?

admin — Wed, 20 May 2009 07:16:32 -0700

Buying life insurance can be a major decision, especially when you want to make sure that the policy you purchase is going to meet the specific needs of you and your family. You might decide that you don’t need life insurance at all, and even if you do want to purchase a life insurance policy you’ll still have to decide whether a term life policy or a whole life policy will be better for your needs. While term life insurance is quite popular, there are some benefits offered by whole life policies that term policies just can’t match.

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Is Whole Life Insurance the Right Option for You?

admin — Sun, 15 Mar 2009 05:21:34 -0700

Life insurance policies can be very valuable for the young as well as adults. Many companies provide life insurance for babies during their first few months of life. These policies can be a great asset to them as they grow up. If the unthinkable should happen and a child passes away, the family has enough money to pay for medical expenses and final expenses, provided they are insured. No one believes or imagines that it can happen to their family. But it does, tragically. Funerals are expensive, regardless the age of the deceased.

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Life Insurance - Understanding Life Insurance

admin — Tue, 27 Jan 2009 04:40:20 -0800

Life insurance is an agreement between an insurer and a policy payer in which the policy payer, which is usually the insured, is ensured to have his beneficiary or beneficiaries paid a death benefit by the insurer in the event of his death. The policy payer will gradually pay the benefit through payment of premium. This premium is either paid on a monthly basis or on lump sums. Life policies determine the coverage of the insured person’s life. The contract between the policy owner and the insurer limits the events that are covered by life policy.

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What is Whole Life Insurance & How Does it Work?

admin — Thu, 15 Jan 2009 06:13:33 -0800

Life insurance is a contract between a life insurance company (the insurer) and a person who pays for insurance (the insured). When you purchase a life insurance policy, you agree to pay the insurance company premiums (payments) for an agreed upon amount of time, and the insurance company agrees to pay your beneficiaries a specified amount of money should you die during the time the policy is in effect.

Types of Life Insurance

There are two main kinds of life insurance: whole life and term life. Within these two main categories, there are many insurance products.

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Whole life insurance types and their differences

admin — Sat, 10 Jan 2009 12:27:24 -0800

There are many things that could happen to a person at any time. The unpredictability of life often leaves people in a precarious state of imbalance. They do not know how things are and they do not know sometimes how to deal with the unexpected things that come their way. It is often troublesome that these things happen. The fact that it is not expected is in itself a problem as people would need to adjust to it as quickly as possible. The problem is often compounded by the fact that surprises are rarely good surprises.

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The Benefits of Life Insurance

admin — Tue, 16 Dec 2008 08:02:52 -0800

Many people never think about taking out life insurance, as most people don’t like to think that they might suffer an untimely death. But the reality is that life us unpredictable, and if you do die prematurely, how will your family cope financially?

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Whole Life Insurance & Your Family

admin — Wed, 01 Oct 2008 05:55:57 -0700

Life insurance is one of the most important things that a person can do for their family. If you aren’t there, how will your loved ones pay the bills and manage to survive without you or your income? It doesn’t matter whether you’re a male or a female, you have a great value to your family and they would have a very hard time without you.

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Where Can you get Whole Life Insurance?

admin — Thu, 18 Sep 2008 06:04:12 -0700

There are many places where you can get whole life insurance. Whole life insurance is one of the most popular forms of life insurance because it actually allows you to be able to be covered for your whole life. Other types of life insurance aren't whole life coverage, and with those type of life insurance you might find that you aren't covered as often as you would like to be. For instance, term life insurance is something that you would have to struggle with, as it would only cover you for a various term in your life.

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The Benefits of Whole Life Insurance for the Younger Set

admin — Thu, 28 Aug 2008 06:18:11 -0700

There are many misconceptions about the various types of life insurance that exist. The complex language that is often used in describing life insurance has a lot to do with the confusion that many people have about life insurance.

Take whole life insurance for example. Many younger people don’t realize how beneficial whole life insurance can be to them simply because of their age. Many of them are equally unaware of the other benefits of whole life insurance.

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Term Life Insurance VS. Whole Life Insurance

admin — Thu, 28 Aug 2008 06:16:01 -0700

With the availability of so many kinds of insurance, it can be confusing trying to select the kind of insurance that is most appropriate for your personal and financial circumstances. Life insurance is valuable to have for the protection of your financial assets now and to ensure that the costs of your final expenses are taken care of. Life insurance is also worth considering for the unexpected turns that life often takes. Treating many of the diseases that strike older adults is becoming increasingly more expensive and has put a real strain on the retirement funds of many people.

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Life insurance and Marriage

admin — Sat, 23 Aug 2008 04:47:42 -0700

One of the best times in your life should be when you decide to get married. This is going to be the time in your life when everything falls into place and you will find that you are able to be very happy with the way that your life is at that moment. When you are looking at life insurance and marriage, there are some things to think about.

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The Uses of Whole Life Insurance

admin — Thu, 14 Aug 2008 13:32:40 -0700

If you are looking for whole life insurance, then you need to decide between whole and term life insurance. To do that, you should carefully study the differences between whole and term life insurance to determine which is best for your life situation. Term life insurance is a short term solution, which can last up to 30 years. At the end of that term, the policy expires and you are no longer covered. Instead of this possibility, it is good to have at least some permanent coverage in the form of whole life insurance.

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Whole Life Insurance And Your Will

admin — Mon, 04 Aug 2008 05:01:34 -0700

There are lots of things to think about as you are looking at life insurance issues. One of the things that you need to think about is your will and how your next of kin is represented in the will. Often the whole life insurance policy will have a person listed as the beneficiary of your money if something happens to you. However, if the life insurance policy is counted as assets, and there is someone different than your beneficiary listed as the person who gets your assets, there could be a problem with your life insurance money.

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Life Insurance Extras

admin — Mon, 21 Jul 2008 16:18:45 -0700

Life insurance extras make your policy go further. They cover a variety of contingencies at minimal cost.

Buying life insurance is like going to the tailor and buying a new suit. make sure it fits well. You might wish to spend a little more on your premiums in order to save money in the long run, and take advantage of numerous riders tailored to fit your particular needs.

What Is a Rider?

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What if the life insurance policy doesn't cover end of life costs?

admin — Tue, 15 Jul 2008 05:02:00 -0700

Life insurance policies should be there so that if something happens to you, your family members do not have to worry about paying for your medical bills or final costs. They should also not have to worry about taking care of any other bills that you happen to leave behind. However, what if you are the one who is dealing with the loss of someone, and that person's life insurance didn't happen to cover all of their final costs?

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What is the difference between Whole Life Insurance & Term Life Insurance

admin — Fri, 11 Jul 2008 05:36:04 -0700

If you have decided that now is the time to buy life insurance, then you have been studying the companies that offer life insurance and trying to decide what kind of policy would be best for you and for your life and situation. Whether you choose term life or whole life insurance depends on a variety of factors including your age and the status of your life.

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Finding the right whole life insurance policy for you

admin — Wed, 02 Jul 2008 05:58:54 -0700

Life insurance can be a very important tool to help make sure that your family is taken care of and won’t face undue financial stress should you pass away, but it isn’t always easy to find the insurance policy that will best meet your needs. While term life insurance is constantly growing in popularity, there are some aspects of a term life policy that just aren’t right for every insurance customer.

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Deciding On Whole Life Insurance Products

admin — Sat, 21 Jun 2008 05:05:39 -0700

As if deciding between whole life insurance and term life insurance wasn’t complicated enough, there are even more decisions to be made if you opt for whole life insurance. Whole life is more than just protection for your family in case of your death or disability. Most types of whole life insurance are also investment vehicles that allow you to build cash value for the future. Some even pay dividends. Here’s a quick rundown of the various types of whole life insurance policies that are available on the market.

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Common Whole Life Insurance Terms & Definitions

admin — Sat, 07 Jun 2008 04:58:48 -0700

Those who are uninitiated into the world of insurance might find a standard contract a little intimidating. Insurance companies have their own lexicon, and this can trip up laypersons shopping for insurance. The particularly confusing world of whole life insurance has its own common terms. Understanding them can shed some light upon

Glossary of Whole Life Insurance Terms

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The Benefits of a Graded Premium Whole Life Policy

admin — Wed, 21 May 2008 05:22:56 -0700

Whole life insurance is notable because it serves a dual purpose. It provides a death benefit in case of the death of the contract owner, thus offering the major benefit of term life insurance. It also serves as an investment and savings vehicle for the policy owner because the policy builds cash value. Depending on the type of whole life policy you purchase, you can quickly build cash value into your policy, and borrow against it at low interest rates, or surrender your policy for its cash value.

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Whole Life Insurance & Your Needs

admin — Thu, 15 May 2008 05:08:29 -0700

As people grow older, they begin to consider the legacy they’ll leave behind. Will there be enough to pay their final expenses? Will there be enough for a surviving spouse or children (or grandchildren) to keep them going? Whole life insurance policies can solve this problem. Depending on the age at which you purchase your policy, the payments and benefits could be very large or fairly small. It also depends on what your personal finances are like, and what needs you can foresee in the future.

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Why Switch to Whole Life Insurance?

admin — Thu, 08 May 2008 13:38:38 -0700

Whole life insurance, like term life, pays out after the death of the person who is insured. These two types of insurance are, however, very different in several respects. Term life is typically much less expensive, due to the fact that its protection is only temporary. Whole life, on the other hand, has much higher premiums but provides protection for your entire life. Given the extra expense of whole life insurance, doesn’t it make sense to just buy a series of term policies instead of buying a whole life policy?

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Families and Life Insurance

admin — Thu, 08 May 2008 13:29:57 -0700

Life insurance is something that you probably don't want to think about, because if you have a life insurance policy for yourself, most of the time no one will see it until you are gone. This is usually something that is very depressing, and therefore many people don't want to think about life insurance. However, when it comes to your family , life insurance is very important because it can provide you with peace of mind, and provide them with the money that they would need if something was to happen to you.

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Whole Life Insurance Q & A

admin — Mon, 05 May 2008 06:10:26 -0700

Many people still have trouble understanding whole life insurance. In an effort to assist further comprehension on this important matter we will look at a few of the most frequently asked questions that people have and answer them. Usually this type of clear cut Q & A method can eliminate concerns and problematic quandaries. Are you ready to discover new factors and aspects of whole life insurance? Great! Let’s begin our in depth look into whole life insurance.

Q. What is the difference between term life insurance and whole life insurance?

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Questions to Ask before Buying Whole Life Insurance

admin — Thu, 01 May 2008 06:38:42 -0700

Once you’ve decided to buy whole life insurance, you’re ready to start looking for the best deal on a policy. To make sure you get the best deal—and that you fully understand the policy you’re buying—ask your agent or insurance carrier these questions (and any others that you feel are important).

1.What events does the policy provide coverage for? What isn’t included?

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