|
|
|
Friday, November 20, 2009
|
|
Life Insurance 101
|
 |
Call us at (800) 940-3002
|
|
|
|
|
|
|
|
|
|
|
Whole life insurance is permanent life insurance and provides protection for life.
As long as premiums are paid, a death benefit is paid to the beneficiary. The premiums
for whole life insurance policies are designed to remain level over time. In addition,
these policies accumulate cash values on a tax-deferred basis. The rate of return
on whole life insurance cash values is dependent upon a number of factors including
the results of an insurance company's investment performance. Cash values can be
used for a variety of options:
- The policy can be surrendered at anytime for the
cash surrender value.
- The policy owner can take out a loan and use the cash value as collateral.
- The policy can be changed to a reduced death benefit amount that is paid up.
- The cash values may be used to pay premiums for a certain period of time.
- The cash surrender value can be used to supplement retirement income.
Whole life insurance policies are valuable because they provide permanent protection
and accumulate cash values that can be used for emergencies or to meet specific
objectives.
The cash values of whole life insurance policies may be affected by a
life insurance company's future performance. Some factors that influence
a life insurance company's performance are expenses, mortality experience, and investment
performance.
|
|
|
|
|
|
Return of Premium (ROP) Term Life Insurance |
|
|
Whole Life Insurance |
|
|
Universal Life Insurance |
|
|
Variable Life Insurance |
|
|
Variable Universal Life Insurance |
|
|
Second-to-Die or Survivorship Life Insurance |
|
|
|
|
|
 |
|
|
