Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
A whole life insurance policy is the only policy that you can purchase that guarantees that the death benefit will remain level throughout your life and the only requirement on your part is payment of the premium which is also guaranteed to remain level for your entire life. In most cases the sum of premiums is significantly less than the death benefit making a whole life policy one of the most efficient ways to purchase life insurance.
President, Lane Independent Agency, Southern California
Please see my answer earlier today regarding types of life insurance. Whole Life is a well known and recommend policy. It is some firm's flagship product, but it is the most expensive. I personally recommend Equity Indexed Universal Life. It is tied to the market, but only in going up, with a cap, but it does NOT go down if the market goes down, as it will. Talk with your agent. Premier Financial Alliance offers this product with full living benefits you do not have to die for to get paid on. GARY LANE. garylane@cox.net. 714 422 9616. Thank you.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Is Whole life insurance worth buying? Well the answer is going to vary by the individual as people see worth differently. To me a decades old owner of whole life, all I can do is tell you why I purchased whole life. I liked the idea of owning the policy with a set price that cannot be changed. I liked the terms of ownership didn't or couldn't be changed over time. I like the steady boring returns to cash values that these policies produced. While my real estate, stock market and other investments have gone up and down, in many cases very dramatically, my boring whole life has done what it said it would. My whole life has NEVER gone backwards in value, it grows in good markets and bad ones. Is whole life the only thing you should purchase, well no. A good portfolio is a diverse portfolio. Whole life should be a part of it, but not all of it. Owning a whole life allows you to take risks elsewhere as you have a safety net.
Whole Life insurance is a form of permanent insurance, that in addition to paying a death benefit, accumulates cash value.
By offering permanent protection with premiums that are guaranteed to never increase, the policy is designed to "cover" your whole life
In addition, unlike some other forms of life insurance, whole life policies build cash value you can use while you are living to help meet your financial goals
This type of policy should be considered by reviewing your financial goals, and making sure they are in line with those goals.
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By offering permanent protection with premiums that are guaranteed to never increase, the policy is designed to "cover" your whole life
In addition, unlike some other forms of life insurance, whole life policies build cash value you can use while you are living to help meet your financial goals
This type of policy should be considered by reviewing your financial goals, and making sure they are in line with those goals.