Whole Life Insurance
Whole Life Insurance provides for a level premium, and a cash value table included in the policy guaranteed by the company.
The main advantages of Whole Life Insurance are:
- Guaranteed death benefits,
- Guaranteed cash values,
- Fixed and known annual premiums, and
- Mortality and expense charges will not reduce the cash value shown in the policy.
The disadvantages of Whole Life Insurance are:
- Premium inflexibility, and
- The internal rate of return in the policy may not be competitive with other savings alternatives.
The death benefit can be increased through the use of policy dividends. Dividends are not guaranteed and may be higher or lower than historical rates over time. Premiums are much higher than term insurance in the short-term, but cumulative premiums are roughly equal if policies are kept in force until average life expectancy.
FREE CONSULTATION
Four reasons to call Legacy Quote about your Whole Life insurance policy.
- Your policy is expiring.
- You want to upgrade your policy to provide better coverage to your family.
- You want or need to save money or cut back on your expenses.
- You're not sure if a Whole Life insurance policy is still the best type of policy for your current financial plan.
Insurance Quotes for Whole Life
If you want the most competitive insurance quotes on Whole Life insurance policies, Legacy Quote has access to the leading and most competitive Whole Life policies available. Call us so we can prepare the most competitive quotes available.
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