Why are whole life insurance rates so much higher than term life
Whole life insurance is insurance for the rest of your life. You can keep your policy up until age 100.
This policy can never be taken away from you. Term life insurance policies remain in force for limited periods of time.
Compare Low Cost Whole Life Insurance Premiums From Hundreds Of Carriers Rated A Or Better By A.M. Best - Save Up To 70%
You can buy a 5 year term policy, a 10 year term, 15 year term,
20 year term, 25 year term and 30 year term. The shorter the term period
the cheaper the policy.
A 5 year policy will cost less than a 10 year policy. A 15 year policy will cost less per year than a 20 year term life policy.
Why is this? If you take some time to think about it you will realize that the longer the duration the longer the company is at risk. It therefore costs more to own a whole life policy than it would cost for a term policy.
Whole life insurance premium costs are higher for this reason and for other reasons as well.
Whole life insurance
This means that if you decide you don't want to keep your policy after a
few years, for example, there is something in it for you. Whole life
has guaranteed cash values which accumulate interest.
Whole life also has dividends added to the cash values if the company does a good job of keeping down expenses and also does well with their investments. Dividends are not guaranteed.
Copyright © 2004 - 2019 LifeInsuranceHub.Net. All Rights Reserved.
Let us be your guide through the process of acquiring your free life insurance quote.
If you like term life insurance and need to keep it for a long time 30 year term life insurance may be perfect for you.
Life insurance hub is a service dedicated to assisting you in understanding life insurance quotes and how to apply them to your personal life insurance needs.
Buyers tend to request a life insurance quote or several quotes on varying types of policies when they are in the market for life insurance. Some know exactly what type of policy they want but most...
If you are looking for an affordable life insurance policy look no further.