Whole Life Insurance Quotes
Whole life insurance is also an asset because you can use the cash value for purchasing assets as well.
Cash value is guaranteed in a whole life insurance policy.
Whole life insurance guaranteed your family’s protection for a long time, unlike acquiring a term life insurance that gives limited period of protection.
NearMePayday.Loan (Cedar Rapids Iowa)
:: Click here for free Whole Life insurance quotes ::
Life Insurance 101: The Basics of Whole Life Insurance
It is just normal for us parents to be concerned about the condition and the future of our children. That's probably why we invest a lot of money for their education. For many of us, education is the only way for our children to be assured of a good future.
Aside from our children's education, we also want to secure their financial wellbeing at all times, especially in the event of our death. Yes, most of us would hate to think about it but death is one of the surest things that would happen to our life here on earth. And while there is probably nothing surer than death in this world, the financial security of your children can be the exact opposite.
So, what's the best thing that you can do to secure your children's financial future? Sign up with a life insurance policy!
Life insurance is an insurance policy that guarantees financial assistance and benefits for your family in the event of your death. Like other insurance policies, you have to pay premiums for the face value of your life insurance, or for the monetary value that will be paid out to your family in the event of your death. Premiums in life insurance policies usually depend on the age, gender, occupation and health condition of the applicant.
There are many types of life insurance and each type has its own advantages and disadvantages. Basically, the face value of the life insurance would only be cashed and given to the beneficiary in the event of the death of the insured. Other types of life insurance, however, allow the insured to earn cash value aside from the face value of the insurance.
One type of life insurance is the whole life insurance. Whole life insurance is actually similar to other types of life insurance in various aspects. Like other types of life insurance, whole life insurance guarantees monetary value as the policy's death benefit. And like other types of life insurance, you would also have to pay premiums in return for this benefit.
Whole life insurance quotes, however, has some characteristics that make it distinct and different from other forms of life insurance. For one, whole life insurance policy holders own the policy for their entire lifetime. This means that his beneficiaries are guaranteed of a payout whenever he dies, unlike in term life insurance where payout is only limited for a certain period of time. Whole life insurance also allows the policy holder to earn cash value which he and his beneficiaries can make use of even before his death.
Whole life insurance has a lot of advantages to offer for the insured. One advantage is the certainty of a payout or death benefit as long as the policy holder pays his premiums religiously. Another advantage is the certainty of developing cash value. Most whole life insurance policies also requires fixed and level premiums, which means that your premiums would not be affected by any price fluctuations.
Things, however, would be too good to be true if whole life insurance is only full of benefits and without any disadvantage. Whole life insurance also has its own list of disadvantages, and leading the list is the price of the premium. Since the death benefits, plus the cash value, being guaranteed in whole life insurance policies is a lot greater than that offered in term life insurance, the premiums that one has to pay would also be greater. Other disadvantages include inflexibility of death benefits, limited accessibility to the cash value, and limited policy plans.
Like all other things in the world, whole life insurance has its own set of advantages and disadvantages. If measured, however, the advantages would surely outweigh the disadvantages. Further, the disadvantages in whole life insurance are avoidable. All it actually takes is proper care in choosing the whole life insurance company and policy to sign up with.