Term Verses Whole Life – When It Comes to Life Insurance It Pays
You have made a wise, responsible decision when you have decided to purchase a life insurance policy.
Life insurance can be an expensive purchase, too; because of this, many people choose not to pay for something they are not required to purchase. However, life insurance is important to both you and your beneficiary.
There are two basic kinds of life insurance – term life insurance and whole life insurance. There are also different kinds of term and whole life insurance policies, which means potential policyholders have a variety of options.
Therefore, consider doing a little research on the different kinds of life insurance policies, and purchase the one that best suits your needs, as well as the needs of your beneficiaries.
Term life insurance policies:
• Are pure life insurance, meaning they normally do not offer any other benefits other than death benefits.
• Offer life insurance protection for a specified amount of time.
• Are generally less expensive than any other kind of life insurance policy.
• Can be purchased as level term life insurance policies, which offer the same death benefit the entire duration of the policy, or decreasing term life insurance policies, which offer death benefits that decrease each year over the duration of the policy.
• May be purchased as “return of premium” policies, which means the policyholder will receive all or a portion of the premium paid over the course of the policy.
Whole life insurance policies:
• Offer not only life insurance coverage, but provide a savings component as well.
• Offer life insurance protection for the rest of the policyholder’s life.
• Are generally more expensive than term life insurance policies.
• Can be used as estate planning tools.
• Can be purchased as traditional whole life insurance policies, universal whole life insurance policies, or variable universal whole life insurance policies, which gives the policyholder a wider range of options from which to choose.
To get free quotes and learn more about insurance please visit the following recommended sites.
Term Verses Whole Life – When It Comes to Life Insurance It Pays
Budget life insurance for seniors
Life insurance information that can save you money
5 comments:
Good article.
There are now hybrid life insurance policies that have a disability insurance component as well as whole life insurance. If needed, you can convert a certain percentage of this coverage into critical illness/disability insurance. If you do not use this option, it simply remains whole life insurance and builds up equity.
PLEASE REMOVE MY ABOVE COMMENT. OUR CURRENT POLICY IS NOT TRADE COMMENTS WITH BLOGS THAT ALLOW SPAM; NOT ONLY DOES THIS HURT SEARCH ENGINE RANKINGS, BUT IT ENCOURAGES A VERY UNETHICAL PRACTICE. PLEASE DELETE MY ORIGINAL COMMENT AS WELL AS THIS ONE AT YOUR EARLIEST CONVENIENCE.
THANK YOU FOR UNDERSTANDING,
CARIN
ON MAY 30 I LEFT A COMMENT ASKING FOR YOU TO REMOVE THE COMMENT I LEFT ABOVE. I AM ONCE AGAIN REQUESTING THAT YOU REMOVE THE COMMENT BY CARIN. WE ARE NO LONGER TRADING COMMENTS WITH SITES THAT IN ANY WAY HAVE COMMENTS THAT CAN BE CONSTRUED AS SPAM. THIS NOT ONLY HURTS SEARCH ENGINE RANKINGS, BUT IT ALSO FURTHER ENCOURAGES THIS DISHONEST AND UNETHICAL PRACTICE. PLEASE REMOVE MY COMMENT AT YOUR EARLIEST CONVENIENCE.
THANK YOU FOR YOUR CO-OPERATION,
CARIN (LIFE-QUOTES.CA)
ON JUNE 4 I LEFT A COMMENT ASKING FOR YOU TO REMOVE THE COMMENT I LEFT ABOVE. I AM ONCE AGAIN REQUESTING THAT YOU REMOVE THE COMMENT BY CARIN. WE ARE NO LONGER TRADING COMMENTS WITH SITES THAT IN ANY WAY HAVE COMMENTS THAT CAN BE CONSTRUED AS SPAM. THIS NOT ONLY HURTS SEARCH ENGINE RANKINGS, BUT IT ALSO FURTHER ENCOURAGES THIS DISHONEST AND UNETHICAL PRACTICE. PLEASE REMOVE MY COMMENT AT YOUR EARLIEST CONVENIENCE.
THANK YOU FOR YOUR CO-OPERATION,
CARIN (LIFE-QUOTES.CA)
I do wanted a life insurance policy and like the term plan as it is time based. I wanted to know more about this kind of life insurance policy means what factors are considered while buying this policy. What are the benefits and time duration etc.
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