Whole Life Insurance At Onedollarglobeinsurance.com
Whole Life Insurance, or Whole of Life Assurance (in the Commonwealth), is a life insurance policy that remains in force for the insured’s whole life and requires (in most cases) premiums to be paid every year into the policy. With level premiums and the accumulation of cash values, whole life insurance is a good choice for long-range goals. The guaranteed cash values can provide money later on to help with temporary needs or emergencies.
Features of Whole Life Insurance
- Premiums generally are level and payable for life: Since premiums are level, the younger you are when you purchase a whole life policy, the less expensive the annual premiums will be.
- Dividends: Whole life insurance policies can earn dividends. Dividends result when our actual life insurance costs turn out to be less than we assumed in setting our premiums. Dividends are not guaranteed, since we don’t know our actual costs beforehand.
- Guaranteed Cash Values: Unlike term life insurance, which does not accumulate any cash values, some of the money you pay into your whole life policy accumulates as guaranteed cash values. If you choose to surrender the policy, these guaranteed cash values would be available to you. Or, as long as the policy is in force, you may borrow against them as a policy loan at the current policy loan interest rate.
- The amount of your guaranteed cash value depends on the kind of whole life policy you have, its size and how long you have had it. The growth in cash values is tax deferred under current federal income tax law. Borrowed amounts reduce the death benefit and cash surrender value.
If you’re thinking of availing a whole life insurance, OneDollarGlobeInsurance.com can give you the support you need in choosing the best insurance policy for you. At One Dollar Globe Insurance, you can get a Whole Life Insurance easily, with no medical exams needed. All you need to do is answer the questions about your health, and you’ll instantly get reliable life insurance quotes with the lowest monthly rates for your coverage.
