Define Whole Life Insurance

Whole Life Insurance Definition

You may ask, how does one define whole life insurance?

Everyone seems to know a little about term life insurance but most people know little or nothing about whole life.

One reason that people know little about whole life is that they probably have never checked it out.

People tend to buy term more because of the low cost and that it just seems to be the right thing to do. After all, their friends seem to buy term. Let us look at whole life. How do we define whole life insurance?

---

Shop and compare Insurance Rates from 100's of the Top Carriers. Get the Best Quotes possible. Save up to 70%. Click Here For Quotes

---

Define Whole Life Insurance

Whole life insurance is simply life insurance coverage for the rest of your life, thus the name whole life. Whole life has a level death benefit as well as a level premium.

There is much more to this policy though. It has certain advantages that most other policies cannot even think about.

Whole life insurance has cash values and also accumulates dividends. You have the option of using your dividends in different ways. Dividends, however, are not guaranteed.

The whole life policy is usually best used in combination with another type of policy, usually a level term policy. What you do is to use your whole insurance as your base policy and add a level term life policy to it.

Your intention here would be to buy a large amount of life insurance, a whole life and term combination.

Here is an example. You would buy $250,000 of whole life insurance and $750,000 20 year level term. The term policy can be purchased as a rider or perhaps as a separate policy.

The whole life policy will have a cash value after a few years which you can use for emergencies.

In order to get the best definition of whole life insurance I recommend that you follow the links in the text. They carry you to pages which give more detail.

---

Don't pay too much for life insurance! Shop and compare Quality Quotes from Quality Carriers first. Just answer a few quick questions then get your Quotes. The process is Easy and FREE. Click Here For More

---

Home | Whole Life Insurance Online | Define Whole Life Insurance | Whole Life | Waiver Of Premium | Waiver Of Premium And Accidental Death Benefit | Accidental Death Benefit | Term Life Insurance | Term Versus Whole Life Insurance | Term Vs Whole Life Insurance

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