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:
Naming a life insurance beneficiary sounds like a pretty straightforward process. Simply pick one or a few of your dependent loved ones and that’s that, right? Well, not exactly. In the event of your death, you certainly want your benefits to go to the people you care about the most, … Continue reading How to Choose a Life Insurance BeneficiaryRead More
Unfortunately death comes for us all at some point, and since we’re never quite sure when, it’s important to get out and experience this beautiful crazy world while we still can. So here’s a quick list of 10 amazing places you absolutely have to see before you shuffle off this … Continue reading 10 Places to Visit Before You DieRead More
You know that life insurance can protect your loved ones, but did you know it can also be donated to a charity or organization of your choice? Read more about donating life insurance. Taking out a life insurance policy is an excellent way of ensuring that family or loved ones … Continue reading Donating Life InsuranceRead More