What is whole life insurance? Whole life insurance is a type of insurance that will provide you with a secure, tax-deferred investment while also giving you the assurance that your family will be provided for if the unthinkable does happen. Find out if this type of insurance is right for you.

What Is Whole Life Insurance?
Whole life insurance is a life insurance policy that is also a way to invest money. It is referred to as a permanent life insurance policy because, as long as you pay your premiums, the policy is yours for life, providing your loved ones with a guaranteed benefit upon your death.

When you purchase a whole life policy, you decide what amount you want the face value of the policy to be: this can range from as little as $1,000 to the millions of dollars, depending on your needs and what you can afford. Once your premiums, which are based on your heath, the policy’s face value and, often, your credit score, are determined, they will remain constant throughout the life of the policy. Some of the money you pay as premiums is invested for you and is yours to keep should you decide to cancel your policy.

Who Should Consider Buying Whole Life Insurance?
Since whole life insurance premiums are relatively expensive, it is wise to consider it only if you have enough money to buy a policy with an adequate face value.

The younger you are when you buy your policy, the lower your premiums will be, so it may be a good choice if you are very young and healthy.

Whole life insurance can also be a good estate-planning tool for older people and a good choice for individuals who want the security of knowing that their policy will not expire and that they will never have to reapply for life insurance. This can be important if you are concerned that your health may make you uninsurable in the future.

What Types of Whole Life Policies Are There?
There are many variations on the whole-life-policy theme. These variations often have to do either with how your returns are calculated or the payment structure of your premiums.

Traditional: This type of policy gives you a guaranteed death benefit as well as a guaranteed amount of cash accumulation over a specified period of time. When you sign up for a traditional policy, your insurance agent will be able to show you what the cash value of your policy will be at any given point in the future.

Variable: This type of policy gives you the option of investing the cash value of your policy in a number of different investment vehicles, including stocks. Because these investments don’t have a guaranteed return (and might even lose money), it’s not possible to determine what the future cash value of your policy would be.

Single Payment: This policy is generally used for estate planning. Because life insurance payouts are not taxed, this type of policy is generally used to avoid estate taxes and lengthy probate. You purchase this policy by paying a large, single premium, usually an amount close to the face value of the policy.

Comparing Life Insurance Rates by Getting Life Insurance Quotes Can Help You:

* Find affordable plans at competitive rates.
* Find plans that will ensure your family can keep the home you built, by being able to make mortgage and/or rent payments.
* Find plans that give your child(ren) the opportunity to finance their education, thus providing a more promising future.

Why Check Life Insurance Rates Annually?

Why not? Just like other forms of insurance, there are tons of factors that can increase or drastically reduce the cost of life insurance, so being informed about current life insurance rates puts you in control of your finances. Many people could be saving hundreds on their annual life insurance policy if only they took a moment to look at updated rates.

How can life insurance quotes help me find out which policy is right for me?

Life insurance quotes allow you to compare rates of similar life insurance policies. Every family is different: size, risk, need, is all factored into how to determine which policy is right for you and your family. When contacted by agents offering you life insurance quotes, inform them of your family’s life insurance needs. A life insurance quote comparison is essential to deciding which company can offer you the level of protection you need, and most of all, what your family deserves. By comparing life insurance quotes you can find the life insurance policy price that is best for you.

Take a minute and let us help you save more of your hard earned money.

Life insurance is about making sure those you leave behind are financially secure and have the resources to settles your affairs. Make sure you look for life insurance quotes to find an affordable plan for you.

Life insurance quotes is perhaps the easiest and most efficient way for you to find affordable life insurance, you simply compare life insurance rates and save money. Life insurance is a form of protection that provides your family with the financial support needed during one of the most difficult times in their lives; the loss of a loved one. The pain that comes with the loss of a family member is difficult, even more difficult is when that member is primary earner of income or has left unsettled financial matters behind. By shopping for life insurance quotes, you are more likely to find a more affordable plan.

Shopping online for Term life quotes ensures that you have as much information at your disposal to make an informed decision. If you have the most up to date, available life insurance rates, there’s a stronger possibility that you will be able to pick a provider and policy that gives you what you want, but costs less. Multiple insurance agents will contact you (through phone or email, usually) and offer you life insurance quotes at competitive rates. Knowing that other life insurance agents are vying for your business can make insurance companies offer you the most affordable life insurance quotes they can.

The company puts a strong focus on super high quality leads and the level of customer service an agent would expect. To obtain the lead quality the company uses a proprietary lead scrubbing system in addition to a strong focus on search lead generation and high quality in house consumer properties. Agents will find offers excellent filtering, delivery, return and geo-targeting options with comparable pricing to other top tier lead services. Add to that new features such as live transfer leads and you get a customer base that sticks around for more.

What is whole life insurance

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What is whole life insurance

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TIP! When deciding on how much coverage to obtain in a life insurance, you should keep in mind not only regular expenses, but also any one time expenses that may be necessary. However, the proceed from a life insurance policy is most commonly used for expenses like funerary costs and estate taxes.

Term life insurance could be cheap, but it doesn’t last. In fact, one of the only advantages of term policies is that they are much more affordable than other types. Keep in mind that traditional life insurance policies are permanent financial assets, and can be used as something you could borrow against. On the other hand, your term life insurance will vanish the moment you stop making payments.

TIP! Get your life insurance policy through a financial adviser rather than a broker. An insurance broker earns a large commission from any insurance policy you purchase.

Calculate your actual life insurance needs, and let the result guide how much you purchase. Splurging on a high-dollar insurance package can prove to be a financial burden, whereas going with a small package will inevitably put a burden on your family when you pass away. You will feel a lot more protected when you decide on the right decision for life insurance.

TIP! Make sure you get an appropriate amount of insurance. Devote the time and effort to calculate just what your loved ones would need in the event of your death.

When selecting a life insurance policy, remember to calculate coverage for both fixed and ongoing expenses. However, the proceeds from a life insurance payout are also utilized for spending that happens only once. For example, it is usually used to pay the costs of having a funeral, and obtaining an estate lawyer. These expenses can be quite costly.

Financial Advisers

TIP! Life insurance is important for everyone; however, those who have dependents especially need to carry life insurance. If you die, your life insurance can help your spouse pay for your kid’s college or pay off your mortgage.

A financial adviser is a better choice for obtaining a life insurance policy than an insurance broker. Most insurance brokers get a commission for selling policies. On the other hand, financial advisers are paid a flat fee. For this reason, financial advisers are more highly motivated to help you find the policy you need, rather than the one that will pay the highest commission.

TIP! By making sure you are healthy, you have the opportunity to reduce your life insurance premium. It is quite common for insurance carriers to offer discounts to customers who are in better health, as they are more likely to live longer.

When shopping around for an insurance company from which to buy life insurance, choose a large company that has a solid reputation. While an inexpensive policy from a lesser known firm might seem attractive, it will be useless if they will not be able to fulfill the claim.

TIP! Decide how you’d like to buy a policy. You can buy it yourself or buy it through the company that you work for.

Online, when entering information for life insurance, be cautious about volunteering any of your personal data. There are many identity theft rings that use the guise of life insurance to acquire your information. The only information you should have to provide up-front is a zip code.

TIP! Look for red flags from advisors, companies or representatives who are selling you products and services. For example, any agent that will not provide a rating, or that tries to undermine the significance of a poor rating, should not be trusted.

Prices can vary significantly from company to company. Some research has shown that price discrepancy can be as high as 40 percent. There are many sites online that will allow you to compare policies, coverage and prices, but be sure to figure your medical history into the equation.

TIP! Steer clear of insurance labeled “guaranteed issue” unless there are no available alternatives. This type of policy is designed for people with health conditions that prevent them from attaining a normal life insurance policy.

Don’t buy insurance policies that pay huge finders fees to the agent who sold it to you. Commissions are paid to your insurance agent or broker, but the cost of commission is a part of the price that you pay. Look for a “no load” policy, as these policies won’t include annual fees. No load policies are usually bought directly from a life insurance company.

Financial Planners

TIP! When you are looking into life insurance, it is good to do some research on your own, but it is always best to talk with a professional as well. Professionals can help answer your questions and clarify your options.

Figure out how you are going to purchase a policy. You may do it through your work employer or by yourself. You can also ask fee-only financial planners, buy from insurance agents, or buy a policy from commission-only financial planners.

TIP! A two person life insurance policy is a great option for married couples. This is a type of joint policy, rather than having two separate policies.

Look for red flags that you can see from anyone from whom you plan on going about hiring, or from advisors. Any agent that appears vague, or who will not give straight information regarding ratings, should not be dealt with. Also, take the time to lodge a complaint about the agent with their superiors.

Yearly premium payment is another option besides paying premiums monthly. When you decide to go with annual premiums, you can save some cash.

TIP! You might think about quitting smoking before taking out a life insurance plan. For smokers, the costs of life insurance are much larger than they are for those who don’t smoke.

You should stay away from certain insurance policies referred to as “guaranteed issues” unless there is no other alternative. This type of insurance policy is meant for people who have preexisting health issues. You will not need a medical exam to get this kind of insurance, however you will pay a higher premium and have limited coverage.

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