How Can Whole Life Insurance Benefit My Family?
Whole Life Insurance is accurately described by it’s name in that it is a policy that lasts the entire life of the policyholder.
Whole Life Insurance is beneficial as it offers consistency to its policyholders. Throughout the term of the policy, premium amounts do not increase as time goes on. These policies may be cashed out on a tax free basis. You may also be eligible to participate in the profits of the Insurance Company by obtaining a “participating” component Whole Life policy.
Effectively, individuals “overpay” in the early years so that it covers necessary payment amounts as the policy matures.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][templatera id=”4345″][/vc_column][/vc_row][vc_row][vc_column width=”1/3″][vc_column_text]We live in a world that is filled with the uncertainty. Life Insurance protects your loved ones in the event of your death. It can provide future income to your family if you were to pass away during your prime working years, and it may also be used to pay debt, such as a mortgage, final and emergency expenses.
Critical illness insurance offers help paying costs associated with life-altering illnesses. If you become sick with an illness covered by your policy and survive the waiting period, you receive a lump sum cash payment – you decide how to spend the money.
Anyone that has used an insurance agent in the past understands just how valuable such a service provider is, no matter what stage you are at in your life. There are many false perceptions about using an insurance agent that come from a lack of understanding about the process and the benefits.