Whole Life Insurance

Is Term or Whole Life Insurance Right for You?

Whole life insurance is more complicated than term life insurance, but out of all of the permanent life insurance products, it is the most basic and easy to understand. Whole life insurance is a two-part product that pays a death benefit and has a savings component that accumulates cash-value over time. The policyholder can withdraw or borrow against the cash value once enough money has accumulated. A whole life policy may also be part of a tax-efficient strategy for the policyholder.

A whole life insurance policy will pay a guaranteed death benefit when you die no matter how long you have the policy and regardless of your age. It will remain in force for as long as you continue to pay your premiums. Premiums are fixed for life and will not increase or change over time.

One common question people have is, “how much more are whole life premiums compared to term life premiums?” Typically, premiums are three to five times more expensive for whole life insurance policies because a portion of your premium payment goes toward the cash value of the policy.

When it comes to life insurance, there is never a one-size-fits-all approach. It’s important to consult with a financial expert and insurance advisor to find the right solution for you.

Whole life insurance might be right for you, please give us a call. We offer a consultative approach so that you will better understand your life insurance options. You’ll become informed and empowered to make the right choice for you and your family.

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7 Mistakes to Avoid when Buying Life Insurance

Are looking to buy life insurance but concerned about the cost, and overwhelmed by the amount of information you need to sift through to determine the right life insurance policy to protect your family’s financial future? If you’re in the process of researching your options here are 7 Mistakes to Avoid When Buying Life Insurance.

Is It Possible to Get Life Insurance Without A Medical Exam?

Is It Possible to Get Life Insurance Without A Medical Exam? One of the hallmarks of many life insurance policies, especially whole life ones, is a medical exam. A medical professional will analyze your blood and urine, as well as ask questions about your medical history. Your premium prices may be adjusted based on your

Life insurance – Balance your Needs with your Resources

Life insurance will provide a safety net for your family after you are gone. It will help cover the debt, provide income and help your family maintain the lifestyle they are accustom to. Everyone’s life insurance needs will vary depending on their financial and family situation, so that’s why it’s important to talk with a

Life Insurance 101

Life Insurance 101 Not everyone is comfortable talking about life insurance, but it’s a discussion every family should have. This especially applies to young, healthy families with young children, because this is the time where there’s an opportunity to get more favorable pricing on life insurance. According to national statistics, roughly 60% of Americans had

Life Insurance Company Rating System

Life Insurance Company Rating Systems help determine how financially secure your life insurance company is. How will you know if they will be able to secure the financial future for your family when you’re gone? You can find out by using industry standard credit rating systems such as A.M. Best, Standard and Poor’s and Moody’s

Term life insurance – 4 things to help you determine how long you’ll need it

Term life insurance is available is many different terms. Use these questions to decide what length of term is right for you and your family. 1.    How long will your dependents need your income? The length of a term life insurance policy greatly depends on the number of years your dependents will need an income.

What is the Difference Between Term and Whole Life Insurance?

What is the Difference Between Term and Whole Life Insurance? Statistics show that almost 40% of Americans will end up leaving their families in some sort of financial distress when they die, and it’s not necessarily for the reasons you may think. Many of these people mean well and have some sort of provisions in

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