Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
Video Transcript: What is whole life? Whole life is a permanent product that can go all the way out to age 121. The products that are usually sold today are called 'participating'. They're actually returning pieces of the premium you paid, a portion of it, back to you as a dividend. It's a return of an unused premium. Whole life will give you the coverage that you need for the entire period, usually at minimum to age 100, and again, out until age 121. Those dividends, even though they're not guaranteed, those dividends could be a nice supplemental retirement plan that you can put aside with your qualified plans.
Whole life has been around for a long time. If you have a permanent need, whole life should be one of the permanent products that you look at.
.JPG){kind=avatar}
Whole life has been around for a long time. If you have a permanent need, whole life should be one of the permanent products that you look at.