Once you understand the differences amongst term life and permanent life insurance policies, choosing the permanent life insurance option that best meets your needs requires an understanding of the difference between these types of policies.
Many people automatically assume that if they want a life insurance policy that will not expire, they need to purchase whole life coverage . While whole life insurance can be an excellent option, it’s important for consumers to be aware that it’s not the only option for permanent coverage. Before choosing a policy, it’s a good idea to compare life insurance policies carefully so you can be assured of making the best choice for your specific needs. There are several different types of permanent life insurance policies, including:
Investing in a quality whole life insurance policy with a solid life insurance company is an important part of estate planning for many people. When comparing term vs. whole life coverage, one of the first things consumers notice is the fact that whole life insurance premiums entail a larger initial outlay. Instead of immediately turning to a term policy to save money, it’s important to stop and consider just why whole life coverage might be worth the additional premium to you and your family. Whole life insurance policies offer several significant benefits, including:
Your spouse doesn’t even want to think about you passing away, let alone have to sit down and actually discuss it. It’s never easy to talk about death, especially the death of someone you love. That’s why discussing life insurance with your spouse can be so difficult. But since the … Continue reading How to Talk About Life Insurance With Your SpouseRead More
Deciding which type of life insurance product is right for you can be difficult; regardless of whether you’re considering retaining your current policy or you’re shopping for new coverage, it’s important to note that there are benefits to both term life insurance and whole life insurance. Which is the best … Continue reading Term Life Insurance vs. Whole Life InsuranceRead More
We all know how a good life insurance policy can positively affect your family—providing stability, financial security, peace of mind, etc. But have you ever considered how this relationship works in reverse? It’s true, while life insurance does wonders for your family, your family might have some not-so-desirable effects on … Continue reading How Family History Affects Your Life Insurance RatesRead More