Are you looking for the best Life Insurance Policy?
There are several types of Life Insurance Policies you need to consider.
What is Whole Life Insurance?
Whole Life Insurance is a form of permanent life insurance, which features guaranteed premiums, death benefits and cash value.
These policies also offer the possibility for you to receive dividends. These dividends may increase the value of your policy while the insured is still alive or give you an increase in the death benefit for the beneficiaries.
The Whole Life Policy is typically a fixed premium amount for the length of the policy – or, as long as you are alive. The insurance company’s commitment is to pay a specific amount of money on your death.
Not only does a Whole Life Policy provide a death benefit, it can also increase in cash value
Whole Life Insurance offers:
Guaranteed cash value
Guaranteed level premiums
Guaranteed death benefits
Whole Life Insurance is a useful component in your long term goals. Not only is your estate provided with death protection, as long as the premiums are paid in a timely fashion and you remain alive, the benefit will increase annually.
What is TERM Life Insurance?
Term life insurance is a life insurance that provides financial coverage for a specific period of time, which is called a term.
The majority of Term Life Insurance Policies cover you for a guaranteed term such as 10, 15, 20, 25 or 30 years.