shopify analytics ecommerce
tracking

Whole Life Insurance Policy

In Other Shapes And Forms

Whole life insurance is the plan of choice for many people. There are many variations to this plan. It may be a good thing to look at some of them. We will begin by examining the basic whole life policy.



Shop And Compare Whole Life Policies. Call Agent - 877-211-8530
Carriers Rated A+ Or Better by A. M. Best.


Compare Whole Life Insurance Types

  • Whole Life Insurance

    What is a whole life policy all about? If you want a policy that you can keep for as long as you live and that will pay the face amount to your beneficiaries then this may be the plan for you. There is, however, a lot more to this policy.

    There are two types of whole life policies...participating and non participating. Participating whole life has cash values and earn dividends if the life insurance company performs efficiently. Dividends are not guaranteed.

    Non participating policies have cash values but pay no dividend. The premiums are level throughout for both types and so are the death benefits. There are many modifications to these policies.
  • Graded Premium Life

    With this policy the premium begins much lower that the normal cost and increases each year for a specified period then it levels off and remains level for the rest of the life of the policy.

    The ultimate premium is usually a little more the it would have been had a normal whole life policy been taken out at the outset. The premiums increase for 5 or 10 years depending on the particular companies idea as to how the policy should work.

    This type of policy is purchased by one who likes the idea of whole life but doesn't want to put out the full premium at the outset.
  • Limited Payment Whole Life

    This policy is designed that you pay only for a specific period of time but you still own your policy for your entire life. What the life insurance companies are doing here is packing the cost of the policy in the first 5, 10 or 20 years for example.

    You don't pay after these periods but you still own your policy. You still have your cash values and you still earn dividends. Keep in mind that the cost for such policies are more than those of regular whole life insurance policies.
  • Single Premium Whole Life

    The idea here is that you pay only once and the policy remains in force for as long as you live. The policy has cash values from very early and, if a participating policy, accumulates dividends.

There are other variations to the whole life policy. They are usually referred to as modified life policies. Some have a lower level premium for 5 or 10 years and a higher level premium thereafter.

There are a few others that have a more complex premium structure but with a lower premium throughout. This premium is based on whether or not the company pays a dividend.

As a result the owner of the policy may end up with a lower death benefit than anticipated, if the company doesn't perform. The older and stronger companies, however, usually are able to keep the death benefit at the original level.


Save Up To 70% On Your Life Insurance Premiums - Click For Info...


Home | Life Insurance Articles | Whole Life Insurance Options

Tools And Resources

Life Insurance Need Calculator

Recent Articles

  1. Life Insurance - Reasons Why You Should Buy Now

    Should life insurance buying be seen as an urgent matter? There is something about some people that at times may cause them to procrastinate about matters that could end up being quite costly...

    Read More

  2. Affordable Term Insurance - Affordable Term Life Insurance Policy

    Let us talk affordable term insurance. You want a policy that can fit into your budget, right?

    Read More

  3. Advantages Of Whole Life Insurance - Advantages To Owning Whole Life Insurance

    It can be a very satisfying feeling when you become aware of the advantages of whole life insurance for the first time.

    Read More

  4. Best Term Life Insurance Rate - Learn Which Is The Best Term Insurance Rate

    The best term life insurance rate can be quite easily found on the internet today because web insurance companies have done intense research on behalf of the consumer.

    Read More

  5. Great 30 Year Term Insurance Policies Explained - 30 Year Term Life Insurance

    I recently did some research on the development of the 30 year term insurance policy over the years. What I learned was quite interesting.

    Read More