Is Whole (Ordinary) Life Insurance for you?
The product that this web page refers to is not for everyone. However, It can be a very good and useful product for some people. You should read the information on this web page carefully.
Whole Life Insurance, as its name implies, provides permanent insurance protection for the "whole of your life." The "face amount" or death benefit of the policy (the amount of coverage specified) will be paid to the beneficiary upon the death of the insured, regardless of when this occurs, that is, as long as necessary premiums are paid. Premiums for whole life may be level increasing, or decreasing. At some time in the life of this type of plan you can reach a point where the policy can pay some of the premiums internally.
Key Policy Features, for participating whole life policies, it is also possible to offset premium payments. With this option, annual dividends are used to purchase additional amounts of paid-up insurance (called "paid-up adds"). Once the paid-up adds are sufficient to cover the premium, they are surrendered each year to pay for the premium. However if the policy does not perform well you may have to make premium payments again.
The policy loan provision allows the policyholder to borrow against the cash value. The interest charged on this loaned amount may be a fixed or variable rate and is specified in the contract. This allows you to access the cash values without a taxable event occurring under current tax laws.
Please check the information on the other sections of this web page. Then, if your interested in having a quote and additional information just fill out the form below, and we will send the information to you. We will call you one time to help you understand the illustration and information we send to you.
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