What Is Whole Life Insurance?

What Is Whole Life Insurance? It Will Provide Constant Premium Payments And Tax Incentives As Well

Attention Kentucky, Tennessee, and Indiana residents

A look at what is whole life insurance reveals that when you pay a lump sum on death and sometimes when an early diagnosis of a major illness takes place, and provided that all premium payments have been made, you will be availing of a whole life insurance policy. The payment level can either be a fixed sum, or one that depends entirely on investment performance on the amount remaining after mortality and other expenses have been subtracted.

How To Pay Premiums

What the whole life insurance is, with regard to amount of premium payable, will allow the policy holder to choose from among single and fixed periodic payment, or a periodic payment that is subject to review depending on the performance and changes in cost of mortality. You will also have the option to choose a flexible range of payouts that maximize over a given period of time, such as for ten years.

After the ten years have elapsed, the insured is able to continue with the increased premium, or he or she may opt to reduce the cover. What the whole life insurance is can also vary with different whole life policies to choose from, including those for New York State, which has six different types including non-participating, participating, indeterminate premium, economic as well as limited pay and single premium.

With regard to what is whole life insurance, there are certain requirements that need to be met, such as having the owner pay premiums for the entire duration of the policy, and also opting to let the policy be “paid up” that in effect requires no further payment after, say, a period of five years, or it can even be paid up entirely in one single lump sum payment. Another advantage of what the whole life insurance is pertains to the increase in the cash value of the policy even if the performance of the company is not too good.

You will also need to answer whether to purchase the whole life insurance or not, and for this you need to know everything about what whole life insurance is including the rate of return on such a policy, which is quite low compared with other investments. When choosing the whole life insurance as the insurance of your choice, keep in mind that this is a good investment and it provides protection which is more important than the rate of return.

After you have studied in detail what whole life insurance is, you will become aware of the benefits of such a policy such as the premium money going into the cash value which will then pay off the entire policy in a short span of time. In addition, the premium stays constant while you are covered, and if no changes are made to the policy, you will also not require any further medical examinations. There is also a tax incentive for choosing whole life insurance.

If you live in Kentucky, Indiana, Tennessee and would like to find out more about the advantages of whole life insurance then call Curtis Staggs at 270-326-8000 or email him at dig4diamonds@gmail.com or go to www.myburialinsurance.com for a FREE life insurance quote

The Advantages Of Whole Life Insurance

The Advantages Of whole life insurance Will Make This Form Of Insurance More Attractive Than Any Other Type Of Insurance

There are a number of advantages of whole life insurance. Whole life insurance is really a permanent life insurance or ‘straight’ life insurance that is very popular and which covers the entire life of the insured until the day they die, hence the use of the word “permanent.” The greater popularity and increased demand of the whole life insurance is due to the fact that it provides financial protection as well as accrues cash value and also pays dividends on the policy.

A Few Notable Advantages Including Death Benefit, Cash Value, And More

A primary advantage of whole life insurance is that it is an investment that secures the future of the insured as well as builds up finances that is of help in case of trouble in the future. Another advantage of whole life insurance is the Death Benefit, which guarantees that the death benefit will not go down ever. It is also free of Federal income tax and is also available in the form of monthly income if you do not wish to take a lump sum payment.

Consistency of premium level is another advantage of whole life insurance as there is no increase in the premium, which is unchanged and not like other forms of insurance for which premiums keep changing in the upward direction.

You can also get another advantage from whole life insurance in the form of “cash value” in which the whole life insurance accumulates useable cash reserves. This is applicable only to whole life insurance and is an increase that results when the premium is paid and is also accumulated tax deferred.

When you take out a whole life insurance policy, you are able to earn dividends which are another advantage of whole life insurance, and you can receive the dividend in the form of cash that can be used to make purchases for paid up additions, used to minimize premiums or even used to get interest by keeping it within the policy.

As you can see, there are many advantages of whole life insurance that are quite unique, and which makes taking out a whole life insurance policy really worth your while. There are many experts that can provide counseling as well as advice on how best to go about getting a whole life insurance, and who will be able to explain the benefits to you if you purchase this type of insurance. So, why not get a whole life insurance policy and reap the many benefits that will help you in the future?

Call today for a FREE quote 270-326-8000 ask for Curtis Staggs or go to whole life insurance to get your quote and a free funeral estimate.

Curtis Staggs is a 20 year business veteran. He’s been in the insurance industry since 2003. He’s an independent life insurance agent serving multiple states. If you’d like to learn more about life insurance products call 270-326-8000 to get a free no strings attached teleconference about the benefits of having coverage.