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:
My apologies for the title of this post, but I wanted to get the attention of those of you who have procrastinated with getting a life insurance policy. Some of you know it’s something you need to do and “will get around to it someday,” while others have started the … Continue reading Letter to a (Dead) ProcrastinatorRead More
3 Most Common Reasons for Canceling a Life Insurance Policy Just as the name implies, life insurance is usually for life. After all, the policyholder’s family will only receive the death benefits when the policyholder passes away. So why would anyone cancel a life insurance policy prematurely? Individuals usually sign … Continue reading When is it appropriate to cancel a life insurance policy?Read More
Regardless of whether or not you’ve ever shopped for life insurance, you’re still probably aware of the fact that your health can have a major impact on how much you pay each month in life insurance premiums. But while it’s common knowledge that chronic conditions like cancer and diabetes, and … Continue reading Surprising, Yet Common, Health Conditions that Affect Life Insurance RatesRead More