Whole life insurance is a permanent insurance product that provides coverage for the whole of your life. If you require permanent coverage then you should definitely consider whole life.
Whole life insurance has many personal and business financial planning uses in addition to providing a level premium permanent death benefit. The build up of cash value offers tax advantaged growth which can be used to supplement retirement income, fund executive benefits and much more.
The important thing to remember is that life insurance provides cash at death so get the required coverage first. You can always add term riders to give you the required amount. You can always convert it later.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Buy whole life insurance when it hurts just a little bit. After a period of time that hurt will go away and you will be patting yourself on the back for your long sightedness. Don’t think that you need all of your life insurance to be in a single policy. While there might be incremental savings in that approach it could lead to unnecessary and expensive delays. Senior citizens will tell you that they wished that they had bought more whole life and bought it earlier. They seldom say that they have too much insurance and would often like to purchase more but cannot because of health and age.
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Whole life insurance has many personal and business financial planning uses in addition to providing a level premium permanent death benefit. The build up of cash value offers tax advantaged growth which can be used to supplement retirement income, fund executive benefits and much more.
The important thing to remember is that life insurance provides cash at death so get the required coverage first. You can always add term riders to give you the required amount. You can always convert it later.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.