Today whole life insurance is still available (you can get a quote using the online rate calculator on the top of this page) however there are
permanent insurance products available today that provide better guarantees at a lower cost.
For people that can not qualify for the Safe Harbor Term Life Express insurance product due to health issues or age, Phoenix Life offers
other permanent insurance products to help homeowners protect their home and family.
So if you only work another 10 to 20 years, and only need life insurance to replace lost income, term life insurance is probably best for you, rather than a more
costly permanent insurance product.
Today whole life insurance is still available (you can get a quote using the online rate calculator on the top of this page) however there are
permanent insurance products available today that provide better guarantees at a lower cost.
LifePhases Plus is
a permanent insurance product with similar premium increases.
Lifetime Builder ELITE also offers the potential to accumulate greater cash values over the life of the policy than other fixed - interest
permanent insurance products.
For others they have the peace of mind of knowing that as long as they continue to pay the premiums on
a permanent insurance product, their beneficiaries will eventually receive a death benefit.
Whole life is
a permanent insurance product that provides coverage for your entire life.
Whole life is
a permanent insurance product that provides coverage for your entire life.
Permanent insurance products are attractive to some homeowners, because as long as you pay the premiums, the policy will stay in force.
Some of these provide the ability to convert the policy over to
a permanent insurance product, within certain guidelines.
While not to take the place of a savings account,
some permanent insurance products have a cash value component that accumulates interest which can be used, via surrendering the policy or borrowing against it, for future expenses such as medical bills; however, the value grows more slowly than a typical investment plan and if you don't repay the policy loans with interest, your death benefit will be reduced.
Fortunately, you can convert many term life insurance policies to
a permanent insurance product such as whole life insurance, universal life insurance or variable universal life insurance.
Term insurance, which can be purchased with a 30 - year term, is the most affordable life insurance product because the mortality rate for this product is much lower than
permanent insurance products, especially in cases where the principals to be insured are young and healthy.
Some term life insurance policyholders eventually convert their coverage to
a permanent insurance product.
Whole Life, considered the bedrock of the insurance industry, is
a permanent insurance product that, once issued, has a guaranteed death benefit and a guaranteed periodic premium, and can not be canceled as long as premiums are paid.