shopify analytics ecommerce
tracking

Affordable Whole Life Insurance

Affordable Whole Life Policy Options

Looking for affordable whole life insurance? The options are many.

On this page I will give you a brief outline of some of the options available. Let us first define whole life insurance.

Whole life provides a death benefit that can never decrease for the rest of your life or to age 100.


Save On Life Insurance Protection - Quality Carriers


Affordable Whole Life Insurance

At age 100 the cash value of the policy equals the amount paid in. Some companies build the policy so that the cash value equals the amount paid by age 90.

There are two types of whole life policies, participating and non participating policies. Participating policies, usually issued by mutual life insurance companies, pay a dividend in addition to your cash value if the company performs well.

Dividends are not guaranteed.

Life insurance premiums are based on the applicants age, health and occupation or avocation. If you are in good health at the time you apply you get a lower rate than the person who is not.

Keeping in mind that whole life can last up until age 100 you can appreciate that the premiums will be higher than those of a term policy that lasts for a much shorter period, 5 or 10 years for example.

  • Non Participating Whole Life

    I have a particular preference to non participating whole life because the premiums are lower. Let us be practical, we buy life insurance to protect our families and a non par policy does that as well as any.
  • Participating Whole life

    You pay more for a participating policy than you would for non par insurance but the cash value break even point is much earlier when you consider the dividend paid by the better companies.

    Think in terms of a break even point about 20 years, though I have seen some policies break even before 10 years. This is not based on projections but rather on actual experience.
  • Combination Policies

    Some life insurance companies offer a policy I like to call a combination policy. This is a participating whole life policy with part of the death benefit initially provided by term insurance.

    As the years go by and the dividends are added to the policy these dividends are used to purchase paid up additions which are tiny fully paid up whole life policies.

    As the paid up additions grow they replace the term insurance until the term portion of the death benefit is totally replaced.

    Some of these combination policies or enhanced policies perform well depending on the company's performance. These policies can even be cheaper than non participating whole life.

As you can see there are alternatives to the basic policies. Affordable whole life insurance policies are available. When you consider that you get back your cash at some point if you don't die whole life ends up being more cost efficient than term.

You also have your affordable whole life insurance policy for the rest of your life. The death benefit never decreases and it can never be taken away from you.


Shop And Compare Low Life Insurance Premium Rates - Save Up To 70%


Home | Whole Life Insurance | Affordable Whole Life Insurance

Copyright © 2004 - 2019 LifeInsuranceHub.Net. All Rights Reserved.

Protect Your Family With Up To $1,000,000 No Exam Term Life Insurance

Tools And Resources

Life Insurance Need Calculator

Recent Articles

  1. Affordable Life Insurance - Term And Permanent Life Insurance

    The amount of spendable income an individual has helps determine what is affordable life insurance.

    Read More

  2. Personal Life Insurance - Present And Future Needs

    You have been hounded by life insurance agents from your senior years in college. You just didn't see the need to buy personal life insurance.

    Read More

  3. Term Life Insurance With No Medical - Non Medical Term Insurance

    Some people don't understand how you can buy term life insurance with no medical required. They are under this illusion that in order to issue such policies the premiums have to be higher than the nor

    Read More

  4. Term Life Insurance No Exam - Term Insurance No Medical Exam

    Term life insurance no exam necessary. These days, it appears that, everyone wants to buy term life insurance.

    Read More

  5. Best Term Life Insurance - Best Term Insurance Coverage

    Finding the best term life insurance policy can be a very tedious exercise. What really is the best? It is important to make a decision as to why this life insurance is needed in the first place. We t…

    Read More