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The value of a whole-life insurance policy depends on many factors, including the premium that has been paid,the amount of guaranteed cash value that has accumulated, and what dividends (if any) have been paid and how they have been used.
Whole life premiums are much cheaper when you are younger.
An experienced broker can provide multiple quotes, free information and expert advice for you.
A Whole Life Insurance Policy has financial worth to the beneficiaries of the policy as well as the secondary life settlement market. A Whole Life Insurance Policy can have cash value financial worth with guaranteed cash value accounts and the possibility of dividends, which is return of unused premium up to basis. The value may have collateral benefits as well as an asset. Now whether a whole life insurance policy is the correct policy for you will need to be assessed by the financial suitability for you. Financial suitability is based on your financial profile, risk tolerance and economic goals.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
A whole life policy is a promise. It promises a benefit to those that you love in the event of you untimely death. It is a promise to accumulate money so that you have the option of surrendering the death benefit coverage and taking a guaranteed cash sum. It is a promise to give you a loan without any preconditions any time that there is cash in the policy. Ultimately it is peace of mind and a very good financial planning tool.
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Whole life premiums are much cheaper when you are younger.
An experienced broker can provide multiple quotes, free information and expert advice for you.