Sentences with phrase «purchased as whole life insurance»

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Whole life insurance policies are generally more expensive than alternatives, such as term life insurance, and the death benefit directly impacts that cost, so it's important to evaluate your family's needs before deciding to purchase.

Just as there are several pros associated with purchasing a whole life insurance policy, there are some potential downsides as well.

Deciding whether to purchase whole life or term life insurance is a personal decision that you should base on the financial needs of your beneficiaries as well as your financial goals.

Gerber's whole life insurance policies also can be purchased without undergoing a medical exam, so long as you are under 51 and are seeking less than $ 100,000 in coverage.

Term life insurance is less expensive to purchase than permanent insurance (such as whole life, variable life, or universal life) during your early years.

Though these can only be purchased as separate policies, guaranteed universal life insurance has little to no cash value, so it's considerably less expensive for permanent coverage than whole life insurance.

As with most mutual insurance companies that offer participating whole life, a large percentage of the total dividend will go towards the purchase of paid up additions.

You can get a similar effect by purchasing a whole life insurance policy that's paid for over a shortened period of time, such as 20 years.

Deciding whether to purchase whole life or term life insurance is a personal decision that should be based on the financial needs of your beneficiaries as well as your financial goals.

As a side note, consider purchasing a participating whole life insurance for your children.

Thus, it makes sense to roll the dividends back into the policy by purchasing additional whole life insurance so that your cash value grows, compounded by a guaranteed interest rate and dividend growth and your death beenfit grows, so you leave as much money as possible to your estate.

This important whole life insurance policy is typically purchased to cover the cost of a funeral and burial and, sometimes, other expenses that must be paid to close an estate, such as credit cards and other types of small loans or bills.

This is a fairly unique rider as it gives your spouse the ability to purchase single premium whole life insurance upon your death without demonstrating insurability.

Whole life insurance, if necessary, is best purchased as a supplement to term life insurance.

As of 2011, whole life policies purchased rose to 31 % of all life insurance policies, making them one of the most popular types of permanent life insurance.

The most common justification for purchasing a whole life insurance policy is that it is also used as an investment tool.

For those that plan properly, they can purchase a very small amount of whole life, and use paid - additions to grow the cash value very quickly (as early as the first year), AND they can use term insurance (preferably as a policy rider) to supplement their overall family protection along the way.

As an example, a properly structured cash value whole life insurance policy that is purchased from a mutual company, is one that has tremendous liquidity, low cost (majority of the cost is buying lifelong level insurance — not to be compared to term), no tax on the growth of the account, tax free loans, tax free withdrawals (up to basis), tax free to survivors, no contribution limits, no required withdrawals, is free from creditors, and has minimum guarantees.

Term life insurance led the way as the preferred policy agents purchase to protect their own families, followed by whole life and then universal life insurance to round out the top three.

If you have any questions on how to purchase life insurance for seniors over age 80, how to obtain a premium quote or life insurance as a whole, please contact us directly at 888-389-8676.

SBLI offers a full suite of whole life insurance policy riders, such as Accelerated Death Benefit, Child Term Rider, Guaranteed Purchase Option and Waiver of Premium.

When you purchase a whole life insurance policy that policy is guaranteed for as long as you can pay the premiums.

At the end of the term, you will have the opportunity to purchase another term, or even it to convert your policy to a permanent insurance policy such as whole life, universal life or variable life.

You can do the opposite as well which is one debatable theories in life insurance industry that says purchase term policy and invest the difference instead of buying whole life insurance.

Universal life insurance is an excellent permanent form of life insurance that can be purchased to insure you for the rest of your life just as with Whole life insurance commonly used in the past but with a fraction of the cost.

Perhaps whole life insurance is better viewed as an investment rather than simply purchasing life insurance.

For those on a limited budget, whole life insurance can be purchased expressly to pay for your final expenses such as funeral costs.

Compare that to whole life insurance, the most popular type of permanent life insurance: you purchase a policy and it lasts for as long as you pay for it.

A traditional whole life insurance policy purchased at 40, keeps the death benefit in force beyond age 70, as long as premiums are paid (dashed - blue, then solid - blue line).

As such, whole life insurance policies purchased to avoid the estate tax may seem obsolete for anyone with an estate worth less than $ 11 million — and some estate planners have called on people to sell those policies.

Whole life insurance is often purchased in an adult's younger years as it can be expensive, but it also is a policy that can accumulate in value and that will never expire.

Now is the time to purchase a whole life insurance policy that work for you, serve your needs as you get older, gain cash value that you can borrow against and provide security for your family and estate needs if you passed away.

It can be purchased separately or as supplemental insurance in addition to term or whole life coverage.

Types of Life Insurance When you get ready to purchase life insurance, among the options that you will have are the various types of policies, such as term, whole, and universal lLife Insurance When you get ready to purchase life insurance, among the options that you will have are the various types of policies, such as term, whole, and univerInsurance When you get ready to purchase life insurance, among the options that you will have are the various types of policies, such as term, whole, and universal llife insurance, among the options that you will have are the various types of policies, such as term, whole, and univerinsurance, among the options that you will have are the various types of policies, such as term, whole, and universal lifelife.

Other types of policies, such as a whole life insurance policy, may be used for death benefits, establishing a legacy and more, but a 10 year term policy often is purchased with a very specific purpose in mind.

However, for those unable to afford the premium necessary to provide adequate whole life coverage for their current insurance needs, it would be imprudent to purchase less coverage than is adequate as whole life insurance rather than purchase an adequate level of term to cover their current need.

Deciding whether to purchase whole life or term life insurance is a personal decision that should be based on the financial needs of your beneficiaries as well as your financial goals.

Getting life insurance can sometimes be complicated because it's such an important purchase, but we'll make it as easy for you as we can and we'll keep you updated the whole way.

Whole life insurance, if necessary, is best purchased as a supplement to term life insurance.

Use your dividends to purchase extra coverage, such as a one - year term insurance or whole life insurance, that matures along with your original policy.

This is because, as you age, the price of your insurance will likely increase until you lock that price in through the purchase of a level term or whole life insurance policy.

However if you are purchasing a more complicated form of life insurance known as whole life, the credit rating may matter more.

If you are interested in purchasing Term life insurance or some of the other excellent products such as Whole life or Universal life insurance do not hesitate to call us.

Deciding whether to purchase whole life or term life insurance is a personal decision that you should base on the financial needs of your beneficiaries as well as your financial goals.

«We had decided to suggest that the individual purchase a whole life insurance policy as he wanted to increase the amount of safety in his life.»

If your agent is local, he or she should be available for appointments, especially if you've purchased whole life insurance as part of an investment or retirement strategy.

There are however a couple of great reasons to consider purchasing whole life insurance such as funding special needs trusts and for truly extremely wealthy Americans.

The two main reasons you might not want to change policies are surrender charges (only in permanent plans such as whole life or universal life), and your new policy will likely contain a new two year contestable period, which means the company could potentially weasel out of paying the life insurance proceeds upon your death if you die within 2 years of purchasing the policy and they find that you answered questions fraudulently on your application.

Oftentimes, this type of whole life insurance coverage is purchased for having loved ones use the benefit to pay for one's funeral and / or other final expenses, such as a memorial service, flowers, transportation, a headstone, and a burial plot — all of which can add up (in some cases to more than $ 10,000).

If you don't want a term policy, and want your payment for life insurance to become an investment, then you need to purchase a whole life policy, which we can not recommend, because despite the sales hype, the return is just not there as suggested, leaving you without coverage nor ROI.