WHOLE LIFE INSURANCE
Whole life insurance is the original life insurance policy,
Providing permanent death benefit coverage for the life of the insured.
Primarily, a whole life insurance is also known as traditional life insurance. A specific death benefit is paid to a beneficiary or beneficiaries upon death, in return for your premiums being paid. The cost of policy is based on the following factors: coverage amount, premium amount, age, gender, and where you live. Men comparatively have higher premiums due to women having a higher life expectancy. Furthermore, a whole life policy has a cash saving component in which policy holders can draw or borrow from. Whole life insurance is heavily considered an investment since a tax-deferred cash value accrues over the life of the policy.
Types of Whole Life Insurance:
- Modified
- Variable
- Indexed
- Joint
Benefits of Whole Life Insurance:
- Provides guaranteed cash value
- Consistant premiums
- Coverage until death
Questions to Ask Yourself:
- Will I need funds to cover my final expenses and any estate taxes?
- How long will I need to be insured?
- Is my family reliant on my current income to pay their living expenses?
- Do I want to leave money for specific family members, organizations, or charities?
Your Health, Money, & Future is Under Your Control.
Tomorrow is the most unpredictable period of our lives. Create and secure a life-proof strategy for maintaining your vital assets.
Our team of experts will exhibit care, knowledge, and experience to formulate the perfect personalized plan to guarantee you are prepared for the unforeseeable.
Our team of experts will exhibit care, knowledge, and experience to formulate the perfect personalized plan to guarantee you are prepared for the unforeseeable.