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.

Factors that raised this business’ rating include:

* Length of time business has been operating.
* Response to 15 complaint(s) filed against business.
* Resolution of complaint(s) filed against business.
* BBB has sufficient background information on this business


What is whole life insurance

{ 0 comments }

TIP! Term life insurance costs less, but it doesn’t always last. In comparison to other life insurance options, term policies are relatively inexpensive.

There can be many different reasons to shop for life insurance, and all of them can raise questions that need answered. Take the intimidation out of shopping for your own life insurance by boning up on your options with the following advice.

TIP! Purchase no more or no less life insurance than you need. Over-buying can needlessly cost you too much money, as under-buying can stress your family out financially if a tragedy happens.

Take your family’s specific needs into account when determining what kind of life insurance you need. Everyone has individual life needs that will need to be addressed in the event of a family death. You should ensure that you have enough coverage to pay for your loved ones’ expenses if the unthinkable happens.

TIP! As you research life insurance carriers, make sure you choose a firm that has a stable, respectable history. 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.

Activities like bungee jumping, scuba diving, or skydiving carry risks that may equal higher life insurance premiums for you. There are jobs involving danger, such as fireman or policeman, and extreme sports hobbies that could significantly raise your life insurance premium because they represent a high risk.

TIP! Stay away from high commission when purchasing a policy. Although insurance brokers and agents can be helpful, they charge a fee for their services.

When selecting a life insurance policy, remember to calculate coverage for both fixed and ongoing expenses. The funds from life insurance are often used for large expenses that are one time only, such as funeral expenses and estate taxes.

TIP! Be a careful consumer and question insurance salesmen or representatives about the information and statistics they give you. An agent who presumes to boast about their superiority over other agencies, or brushes away negative reviews should be avoided.

When shopping for life insurance, you don’t necessarily need to buy a policy with a large payout. The only thing that this will do is make you broke when you are alive. Choose a policy that covers the expenses of your family for a few years after your death.

TIP! You want to avoid “guaranteed issue” insurance policies at all costs. Guaranteed life policies are targeted towards individuals with some sort of pre-existing health condition.

As soon as you have bought a policy, your beneficiaries or those in charge of your estate need to know about it and where to find all the necessary information. They should know about the amount of insurance, documentation location, and who to contact at the insurance company when it’s time to file a claim.

TIP! Purchase a two-in-one policy if you’re a married person. This is a combined policy, not two different ones.

Avoid paying high commissions when you are purchasing life insurance. These fees are added to your premiums and go directly to your broker and insurance agent. Seek out insurance providers who will be willing to sell to you directly; ask for policies that have “no load” features.

TIP! Before purchasing life insurance, compare all of the policies available to you. While some policies may last a long time, others might be renewable.

Steer clear of insurance labeled “guaranteed issue” unless there are no available alternatives. These polices are intended to provide coverage for those with existing health problems. You will not need a medical exam to get this kind of insurance, however you will pay a higher premium and have limited coverage.

Independent Broker

TIP! Ask tough questions of your broker and make sure that he or she can answer them in confidence. Find out if you can cancel the policy at any time, whether you can renew it with the same terms, or what premium guarantees it comes with.

A good life insurance policy tip is to choose an independent broker instead of an insurance firm. The firms themselves usually only sell their product offerings for life insurance, whereas the independent broker can pick and choose options from the various firms, to build you a better policy. Look at different insurance companies when buying life insurance. After all, this obligation is long term.

TIP! Avoid brokers who claim they know everything when selling you a policy. There are many times when brokers assume that every life insurance policy is a one-size-fits-all matter.

When you are considering buying a policy, find out what the cancellation procedures are. You may want to cancel the policy at some later time if your needs change or you are dissatisfied with the company. However, many companies assess a penalty for cancellation. It’s up to you to know your options to ensure you don’t pay extra for a policy you don’t even want.

TIP! If you have a medical exam scheduled for life insurance purposes, you might instinctively decide that it is a good idea to exercise immediately before the exam in order to improve your results. Your blood pressure may actually rise, and this can provide false readings to the doctor.

Once you have familiarized yourself with the information provided in this article, you should be more confident and capable of making the best decisions regarding life insurance. After reading these tips, the next logical step is to apply them as you need them. Use this information to safeguard your family against tragedy by opting for a good life insurance policy.

{ Comments on this entry are closed }

Life Insurance Information That Everyone Should Know

October 21, 2014

TIP! Term policies, just as their name suggests, are limited as to how long they will stay in effect. The biggest benefit term insurance offers is how much cheaper it is when compared to traditional policies. Buying good life insurance should be very important to everyone. You want to plan for the future, and you [...]

Read the full article →

Find The Life Insurance Advice That Is Constructive

October 19, 2014

TIP! While term life insurance is less expensive than other coverages, it will not last. The key selling tactic with term life insurance is in the fact that it is cheaper than traditional policies. Life insurance is a complicated product. Navigating the complex world of life insurance can be difficult, especially if you are unsure [...]

Read the full article →

The Ins And Outs Of Owning Life Insurance

October 18, 2014

TIP! Don’t buy life insurance until you’ve taken the time to look around and compare policies. Often, the difference in life insurance premiums from provider to provider is drastic. Life insurance can be a major relief or a major headache for you. The advice in this article should help you gain more knowledge about policy [...]

Read the full article →

Protect Your Life With Insurance Advice And Tips

October 17, 2014

TIP! Term life might be the cheapest insurance, but keep in mind that it does expire. The main reason so many people get term life insurance is, it’s cost is significantly less than most traditional policies. Do not approach choosing your policy as if you were gambling. Although it seems strange, some people think in [...]

Read the full article →

The Best Tips Available Today For Life Insurance

October 16, 2014

TIP! You need to choose a policy that is effective for your family’s needs. Each family is different and the necessary coverage is not the same for everyone. The reason life insurance exists is to give peace of mind. It ensures that the family will be okay in case of the unexpected death of a [...]

Read the full article →

Why You Need Life Insurance And How To Get It Now

October 15, 2014

TIP! Whereas term life insurance is less expensive, it also is short term. The main advantage of a term life policies is the savings you can keep. Providing life insurance for your dependents and other loved ones is important, so that they are not left destitute if something happens to you. In the case of [...]

Read the full article →

The Life Insurance Advice You Have To Read

October 14, 2014

TIP! Skydiving, scuba diving, and bungee jumping can increase the premiums on your life insurance. There are also certain occupations which could be the cause of these higher quotes. Of course, dying can happen at any time, unfortunately. With proper planning, you can protect your family after your passing so that they will not be [...]

Read the full article →

Choosing Life Insurance Can Be Made Easier

October 13, 2014

TIP! Determine the lifestyle and needs of your family when trying to figure out how much life insurance you should buy. Everyone’s needs are different when it comes to what their family needs following their death. Do not buy a life insurance policy without learning more about this topic. Know where to look for information [...]

Read the full article →

Making A Life Insurance Decision Is Very Important. These Tips Can Guide You In The Right Direction

October 12, 2014

TIP! The amount and type of life insurance your family needs depends on factors such as the type of lifestyle you lead. Each person in the family that is involved with the policy will have their own separate clauses that must be adhered to in the unfortunate incident of a death. Getting life insurance is [...]

Read the full article →