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whole life insurance information
What to Know Before Getting a Whole Life Insurance Quote Online By Elizabeth Newberry
much easier than searching for a number of life insurance companies and their individual whole life insurance policies on your own, right? Right. However, there are a few things you should consider before heading to your favorite search engine and start searching for a whole life insurance quote online.
Choose a website wisely. There are many websites out there dedicated to helping you find and compare life insurance. You want to choose a website with access to many life insurance companies that provide whole life insurance policies. You may even want to search more than one. This helps broaden your results and choose the best whole life insurance quote for you.
Have your history ready. When you get a whole life insurance quote online, you’re going to be asked for a lot of information. You’ll be able to provide most of it easily (your gender, age, age, weight, height, etc.) but some of it, such as specifics about your health history and your family’s health history, may require a bit of digging around first.
There are various kinds of whole life insurance policies. Universal life insurance, variable universal life insurance – they’re both forms of permanent life insurance and have similar characteristics as whole life insurance. Study up on all the variations because you may find that one of them is better for you than a straight whole life insurance policy.
Quotes are usually estimates. It’s difficult for a website to give you an accurate whole life insurance quote simply by evaluating the personal information they ask for. Use the quotes you get as guidelines to choose which whole life insurance policy you’d like to explore further.
Contact a live insurance agent. The Internet is useful, but a live agent will be able to give you an accurate whole life insurance quote after you decide which form of whole life insurance you need.
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Check out this great video about whole life insurance explained:
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Universal Life Insurance Policy - A Different Choice By Elizabeth Newberry
Choosing a life insurance policy isn’t an easy task. There are several policies
to choose from, each with elements that we want and need. The two most popular kinds of life insurance policies are term life insurance policies and whole life insurance policies.
If a term life insurance policy and a whole life insurance policy got married and had a child, the child would be a universal life insurance policy. Universal life insurance policies are a mix of term life insurance policies and whole life insurance policies. Just like all children do, universal life insurance policies have a few positive features and a few negative features of each parent, i.e., the term life insurance policy and the whole life insurance policy.
Like a whole life insurance policy, a universal life insurance policy offers an investment component; however, universal life insurance policies are generally less expensive than whole life insurance policies. This is a good thing for those of us who want the cash value accruement of a whole life policy but can not afford to purchase one. It should be noted, however, that earning a cash value isn’t guaranteed. Coverage can even end if your account gets low enough.
Like a term life insurance policy, a universal life insurance policy is usually not as expensive as a whole life insurance policy. However, even though an accumulation of cash value isn’t guaranteed with a universal life insurance policy, it is possible; it is not possible with a term life insurance policy.
If certain aspects of both a term life insurance policy and a whole life insurance policy appeal to you, consider purchasing a universal life insurance policy. Don’t purchase any life insurance policy, including a universal life insurance policy, without first speaking with an agent of the life insurance company. Your universal life insurance agent will be able to construct the life insurance policy that meets both your wants and needs.
A term life insurance policy provides coverage for just the indicated term. There's just a death benefit and it is given only if the policy holder passes away within the term. Furthermore, the policy expires at the end of the spelt out time. It could as well be terminated if a person defaults in paying rates. Let's see the pros first...
1. It is a cost-effective option at a time in your life when you need life insurance protection but are financially burdened. A good example is when you have outstanding mortgage and young children. You don't want them to suffer if you pass on. However, you don't really have that extra cash to throw around.
2. If you buy a term life policy that's convertible, you can convert to a permanent life policy thus having the best of both worlds. You have the benefits of spending much less for adequate protection when you're have a small budget and then switch to another policy as soon your finances improve.
This discourse won't be balanced if we look only at the good points of this policy. Therefore, let's see the dark sides and remedies for them...
1. You can in time end up with no life insurance protection at the end of your existing term if you're considered uninsurable at the time you reapply. The terrible thing about this is that you're likely to be declined when it is clear you need life insurance most.
A guaranteed renewal feature protects you from the likelihood of being turned down as uninsurable. Another feature: Convertibility, on the other hand keeps you from such a problem by giving you the privilege of converting to a whole life insurance policy within the term of the policy.
2. You would have to die within the policy's duration for any death benefit to be given to your beneficiaries. There's no form of benefit to be paid out should you stay alive through the term and/or die even an hour later.
But wait a minute, before that agent confuses you...
Insurance is really something you buy with the hope that you'll never need it. It's something you have in case something goes wrong. So if nothing goes wrong, we'll be glad. Or, what do you think.
Now to tips to help you save massively...
1. You can't be involved in skydiving and expect affordable rates. If the most affordable rate is your target then you'd just have to give up such sports.
2. You definitely know smoking will raise your rates. But do you know that you can lower your rates by not drinking alcoholic beverages? Taking alcoholic beverages makes you a bad risk and therefore gets you higher rates. Drinking is the root cause of a good number of ailments and that is apart from the fact that it definitely will add to your risk to life insurance providers.
What quantity of alcohol would be harmful to you as an individual? Honestly, I can't say. What I do know is that avoiding alcoholics totally is very safe. If you can't quit completely, drink in moderation if you want to reduce your risk.
3. Do NOT use drugs that have either been banned or have yet to be registered as they will make you pay very high insurance rates if discovered and that's apart from the fact that you are putting your life in danger. And where the use of certain drugs is legally approved, abusing them will also make you attract higher life insurance rates.
Along these lines, stay away from self-medication for both its dire consequences and the fact that it will make you pay much higher life insurance rates.
4. Shopping has always been the best way to get the best deals. And, recommendations from reliable acquaintances can help you get cheaper rates. It is also a good way of getting the best value in life insurance as you would base your choice on user experience and not any kind of sales copy. You can count on your friend to tell you their experience with a provider without changing the story whether good or bad. Inquiries from trusted acquaintances will help you land the best price/value.
5. You will save much if you only have between 25-45 minutes. Visit, get and compare quotes from selected quotes sites. Visiting at least five quotes sites increase the chances that you'd get more quotes. And, you know that since the likelihood of receiving lower term life insurance quotes is related to the range of quotes you obtain, the more insurance companies you get quotes from, the better your chances.
Here are recommended pages for life insurance quotes...
Universal life insurance is a form of whole life insurance, but the premiums are more flexible and the benefits are more adjustable. Some insurance experts suggest that only those individuals seeking life insurance coverage into their 70s or beyond should purchase universal life insurance. Before you decide whether or not a universal life insurance policy is right for you, consider the following information.
Flexibility. Universal life insurance is more flexible than whole life insurance. You can choose the amount of coverage you need, as well as adjust your coverage based on your changing insurance needs.
Savings. Universal life insurance has a tax-deferred savings component. Interest is earned at the insurance company’s interest rate and credited to your account each month.
Options. Universal life insurance policies offer a variety of options such as family coverage (such as adding a term life insurance rider for your spouse and children), waiver of monthly premiums due to disability, and guaranteed insurability.
Loans and withdrawals. You can take policy loans or make withdrawals from your universal life insurance cash surrender value. However, the amount of unpaid loans and withdrawals at the time of your death will be deducted from the cash benefits your beneficiaries receive. The number of loans and withdrawals you can make each year may vary from company to company, so make sure to ask your life insurance agent.
Charges. You may be charged for making withdrawals or surrendering the account value of your universal life insurance. However, note that if you surrender, you will still get the full amount of the account value minus the charges and any unpaid loans.
Death benefits. Universal life insurance has tax-free death benefits, and most life insurance companies offer more than one option for death benefits. You can choose a policy that allows your beneficiary to get the basic amount of life insurance, or one that provides the amount of life insurance plus the account value.
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Latest video about universal life insurance definition:
Universal life insurance definition
Universal Life Insurance Policy - A Different Choice By Elizabeth Newberry
Choosing a life insurance policy isn’t an easy task. There are several policies to choose from, each with elements that we want and need. The two most popular kinds of life insurance policies are term life insurance policies and whole life insurance policies.
If a term life insurance policy and a whole life insurance policy got married and had a child, the child would be a universal life insurance policy. Universal life insurance policies are a mix of term life insurance policies and whole life insurance policies. Just like all children do, universal life insurance policies have a few positive features and a few negative features of each parent, i.e., the term life insurance policy and the whole life insurance policy.
Like a whole life insurance policy, a universal life insurance policy offers an investment component; however, universal life insurance policies are generally less expensive than whole life insurance policies. This is a good thing for those of us who want the cash value accruement of a whole life policy but can not afford to purchase one. It should be noted, however, that earning a cash value isn’t guaranteed. Coverage can even end if your account gets low enough.
Like a term life insurance policy, a universal life insurance policy is usually not as expensive as a whole life insurance policy. However, even though an accumulation of cash value isn’t guaranteed with a universal life insurance policy, it is possible; it is not possible with a term life insurance policy.
If certain aspects of both a term life insurance policy and a whole life insurance policy appeal to you, consider purchasing a universal life insurance policy. Don’t purchase any life insurance policy, including a universal life insurance policy, without first speaking with an agent of the life insurance company. Your universal life insurance agent will be able to construct the life insurance policy that meets both your wants and needs.
Before deciding which kind of life insurance policy is best for you, you must know the key aspects of whole life insurance and how it will be beneficial for you. With a whole life insurance policy you can make your loved ones financially secure in the event of your death. Simply speaking, life insurance helps your loved ones by paying them upon your death.
What is whole life insurance?
Whole life insurance is a permanent life insurance, which covers your whole life with timely premium payments as long as you live. With increase level of premiums and cash values, this life insurance policy will be the best choice for long-term goals. The amount of guaranteed cash values could provide money to help during emergencies or temporary needs. Features of Whole Life Insurance1. Premiums generally are level and payable for life: In the starting premiums will be little higher than a term life insurance but as you go elder, the less expensive will be your annual premiums.2. Dividends: Dividends are not guaranteed with whole life insurance but there is a chance of earning dividends.3. Guaranteed Cash Values: In case of term life insurance, there are no cash values but with whole life insurance some money will be stored as cash values. If you give up the policy, accumulated guaranteed cash values would be yours. You can even take loan against your whole life insurance policy.Before signing up with a whole life insurance policy, you should ask following questions to the agent appointed by Whole Life Insurance Company.1. Which insurance is best for me, Whole Life Insurance or term life insurance?2. How much coverage do I need?3. How and how much discount can I get?4. What are your Standard & Poor’s ratings?You must consider following aspects while choosing a Whole Life Insurance Company.1. Expenses and commissions.2. Guaranteed cash value.3. Dividends and interest.4. How do they adjust the death benefit?You can get any necessary information from online life insurance companies with the help of fast online Internet access. Fast online Internet access and web sites available make you easily compare and get Whole life insurance online quotes.We offer the best independent life insurance source. Check it out only on the Whole life insurance tips. Find all about insurance on http://www.leandernet.com/Life_insurance/Life_insurance.phpArticle Source: http://EzineArticles.com/?expert=Oliver_Turner
There are basically two main kinds of life insurance policies – term life insurance, and whole life insurance. Of course, there are subcategories of each kind, but, in general, term life insurance and whole life insurance are the two main categories of life insurance.Most of us are familiar with term life insurance, as it tends to be the more popularly chosen of the two. It is less expensive, and it only lasts for as long as you need it to. However, not many of us are familiar with whole life insurance. We need a whole life insurance explanation. What exactly is a whole life insurance policy?
Whole life insurance is life insurance that covers you for the entirety of your life, as opposed to term life insurance which only covers you for a certain number of years. With a whole life insurance policy, your beneficiary will receive a death benefit. Sounds pretty standard, right? Well, whole life insurance policies also offer you the option of fixed premiums, which means you will pay the same amount for you whole life insurance policy for the entire time you have it, as long as you faithfully keep up with payments. Your premiums will not increase! You can withdraw money from your policy at anytime without paying it back, and you can even choose to receive dividends that can be paid toward reducing your payments.
Yet, even with all of those great benefits, there are some drawbacks to having a whole life insurance policy. For example, the “investment component” that comes along with a whole life insurance policy is not always what it is cracked up to be. Whole life insurance policies are no account flexibility. This means you can not spread your money among different accounts, nor can you move your money from one account to another. Whole life insurance policies also will not allow you to invest your money into different accounts.
