Whole Life-Permanent Life Insurance
Traditional Whole Life This type of insurance has no specific term and will continue as long as you continue to pay your premiums. Traditional whole life is usually a level insurance product, meaning that the costs of the premium do not change throughout the life of the policy nor does the death benefit change. Traditional whole life is a simple whole life insurance product.
Universal/Adjustable Life Universal/Adjustable life insurance is very similar to Traditional Life, but offers more flexibility. For instance, it is generally easy to increase your death benefit and there is usually a savings vehicle, called a cash value account (savings account), that earns interest and in some cases can lower your premiums.
Variable Life Variable life insurance includes a death benefit and a cash value account that you can make investments with. For instance, you can use the premiums that are in your cash value account to make investments in stocks, bonds, etc. If the investments do well, you can increase your death benefit. However, there is risk involved and poor investment choices may lower your death benefit instead.
Variable/Universal Life Variable/Universal life insurance are both Variable and Universal products rolled into one, you have a cash value account in which you can make investments from. You can also increase your death benefits (or lower them if investments do poorly) and lower your premiums (or raise them if investments do poorly).
If you are thinking about purchasing a whole life or permanent life product, make sure you do a lot of research before purchasing a product. There are many whole life products and some can be more advantageous to your specific needs.
It is important to note that Whole Life/Permanent insurance differs from Term life, in that term life only covers you and pays a death benefit for a specific term (time period). Most term life insurance products do not offer many features. Whole life insurance products are usually much more feature rich than term life products.
Related Tags: whole life insurance
Connie Barker is the owner of several financial websites including those that deal with Whole Life Insurance
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- How to Protect your Home and Family with Mortgage Life Insurance
Paying off a mortgage can be a struggle, even for families with two incomes. If you or your partner - The Advantages of Whole Life Insurance
Whole life insurance is a type of insurance policy that, like term life insurance, pays out upon the - Affordable Life Insurance - Why You Can't Beat The Internet Advantage
If you want to get affordable life insurance fast, then you really have one option -- the internet. - Life Insurance Settlements - What You Need To Know On How To File A Claim
For anyone who has lost a loved one, filing a claim for life insurance settlements is not something - Do I Need Critical Illness Insurance?
Critical illness insurance is taken out to cover you either for life or for a set period of time aga - How to Get the Best Rates on Life Insurance in Pennsylvania
Most people never consider that there are actually things they can do that will help them save money - How to Find the Best Rates on Life Insurance in Tennessee
If you aren't looking for free online life insurance quotes in Tennessee, you should be! The online - The Four Types of Term Life Insurance
At first blush, term life insurance seems as though it would refer to just one type of insurance pol - Life Settlements
Exchange Your Life Insurance Policy for a Life SettlementLife insurance policies are taken with cert - How to Buy Whole Life Insurance Online
Buying whole life insurance online is similar to buying any other kind of insurance online. If you'v
Most viewed articles in this category:
- Life Insurance - The Two Types Of Whole Life Insurance Explained
Life insurance is a topic that's incredibly confusing for many people. There are many terms and prov - The Amazing Story of Life Insurance Settlements and Whether or Not They Are Right For You
Life insurance settlements are a relatively new twist by the life insurance industry as a way to add - What Exactly Is a Term Life Insurance?
The two most common forms of life insurance policies are term life insurance and whole life insuranc - Keyman, Keywoman, or Keyperson Life Insurance: It's Vitally Important To Your Family & Your Business
Key man life insurance, or as it is more politically correctly known, key person life insurance can - Term Life Insurance Explanation
Brief term life insurance explanation. Life insurance companies offer two basic types of policies... - Is Life Insurance Cost An Important Consideration For You?
Life Insurance cost. When we search for life insurance the cost of the policy is important for most - Get Protected: Shattered Dreams Caused By Life Insurance Complacency
Margaret Donaldson sat in the living room of her smart 3 bedroom home near Fulham Road in London. He - Get the Best Insurance Policies using Online Term Life Insurance Quote
Did you know that you could apply for an insurance policy sitting at home from your own computer? We - Providing The Right Fit With Whole Life Insurance
An initial search of whole life insurance on today's leading search engines reveals a rather negativ - Affordable Life Insurance - How To Choose One
Low-rate-life-insurance that benefits you There are primarily two basic types of affordable life ins