What is Whole Life Insurance?
With whole life insurance, you own your policy for your entire lifetime. You have the flexibility to select the amount of the death benefit or face value, depending on your needs. And as more premiums are paid, cash value accumulates, growing on a tax-deferred basis. Although the monthly cost of whole life insurance is higher than term life, for example, you gain equity with each payment you make.
In essence, whole life is like buying a house versus renting it. The monthly cost is higher than it would be for a term life policy, but with each payment you make, you gain “equity.”
Why would I want it?
Because you want to ensure that your family will have the money necessary to live in comfort, purchase a home, pay for college, and so on, should something happen to you. At the same time you want to have a policy that you own for your entire lifetime and accrues cash value, which you can borrow against for any purpose. Loans, however, require you to pay interest and any borrowed amount you do not pay back is deducted from the payout to your beneficiary at the time of your death.
Fast, Easy, and Affordable Life Insurance
Life insurance is a way to protect your loved ones financially after you die and your income stops. The answer to whether you need life insurance depends on your personal and financial circumstances. If you need life insurance, Don’t Delay!
Why Wait? Are you Confused? Need a True Honest Analysis not an Insurance Sales Pitch? Want to Know You’ve looked at All Companies? Have Poor Health? Don’t Want to Pay High Premiums or Wasteful insurance costs?
Let our team of over 25 years Experience, Independence, and ability to work with ALL Top Rated Insurance Carriers–Work for You. You can feel confident you will work with someone who relates and will analyze your needs, most importantly focused on providing you the most cost effective rates from the top rated companies. We will work with you to provide more than just a quote but an analysis that you can feel confident knowing you’ve secured the Right plan for you and your family.
Fill our simple quote form or give us a call. Whatever works best for you. We will make sure you will get a response in 24 hours.
