All about Whole Life Insurance

Sept. 03- 2010 Update "Whole Life Insurance" By Insurance Experts

2010-09-02T13:02:00.000-07:00

I'm not going to attempt to go over the many different types of whole life and fixed term insurance plans that are available but I'm going to give a broad over view of why in my opinion fixed term is far better than whole life.

Let's say you take out a whole life insurance policy this means that even after you retire you are still taking out coverage. This would make sense if maybe you live in a high risk area but if at retirement your house is paid for, you have no debt and your children have already been put through school and are working then this makes no sense. At this point it would be better to have the money and put that money in an investment vehicle that will give you an average return over your remaining years and still allow you access to it all should an emergency arise.

Having the money at the end of a fixed term insurance plan would actually mean that you are 'self insured.' Should a medical emergency arise that requires a specialist then you have the money to pay for it. Would you like to travel? You can afford to travel in luxury.

Why insurance companies tend to lean toward selling whole life insurance plans is because they ultimately make more money from them.

A recent study was done where the C.E.O's of major insurance firms were asked what kinds of policies they had and 90% answered 'fixed term'. They understand that fixed term is the rational decision because if You've been in the habit of making financially sound decisions then come retirement You will be in a position that You won't need life insurance anymore.

Thank you for reading and I hope this has proved insightful.

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August 17- 2010 Update "Whole Life Insurance" By Insurance Experts

2010-08-16T10:34:00.000-07:00

In the case of whole life policies, the policy reserve increases from year to year as the life insured gets older, at very advanced ages in most policies equals the sum insured. Premiums are payable at the same amount each year from the date the policy is issued until the life insured dies, unless the policy owner wishes to discontinue paying premiums and surrenders the policy for its cash value, or takes extended term or reduced paid-up insurance. Whole life insurance is especially useful where there is a need for lifetime protection against financial risks, such as retirement expenses, final expenses and for the maintenance of dependents, if the policy owner dies before reaching retirement age. (By Kyle J. Norton)

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Whole Life Insurance Policies - Do Not Throw Your Money Away
By Mark Prip

Making the decision to buy life insurance is very smart. It is just good sense to have a safety measure in place for your family in case something happens to you. The hard part is deciding what kind of policy to buy and who to buy it from. Most people just buy the cheapest possible policy so that they can feel safe, but this may not save them money in the long run. If you are interested in investing your insurance premiums instead of simply forking over the money to the insurance company, then you may be interested in a unique type of coverage: whole life insurance policies.
Whole life policies are unique in that the premiums paid on these policies are invested by the insurance company into stocks, bonds, and other financial instruments. The dividends from these financial instruments are what ultimately pay for the death benefit at the end of your life. The best part of it is that if your dividends exceed the death benefit, then your beneficiaries will receive a portion of that, too. This way, you are guaranteed some sort of return on your investment, and you may also receive more, depending on how the stocks perform.
Since it is up to the insurance company where they want to invest your money, it is important to make sure that the insurance company you choose has a good track record of sound financial decisions. A.M. Best Company has been rating and evaluating insurance companies for over a hundred years. If they give an A rating or higher to an insurance company (A+++ being the highest possible rating), then you can rest assured that their whole life insurance policies will most likely turn out to be profitable. Just make sure that you check a reliable source before committing to a whole life policy.
If the idea of investing your money in your insurance instead of just spending it on your insurance appeals to you, then you should probably take a closer look at whole life insurance policies. But be forewarned that this type of life insurance comes with higher premiums as a result of the benefits they offer. And you should remember that you will be paying these premiums for the rest of your life. Before you commit, you should also talk it over with your spouse. After all, your spouse is most likely the person who will have to live with your decision if something happens to you.
Mark Prip recommends checking out this unique site on Whole Life Insurance for more information.
Visit this informative Life Insurance site today at http://www.getlifequotes.com to run instant quotes and learn more about Life Insurance plans.

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July 30- 2010 Update "Whole Life Insurance" By Insurance Experts

2010-07-29T09:24:00.000-07:00

I have ran into the question many times over, what is the difference between term life insurance and whole life insurance?

So many people know they need to have some type of life insurance in place, but when it comes down to making the decision of what type and how much, they get overwhelmed and give up. If you're one of the many people who don't know the difference, don't know how much you need, and no one has taken the time to explain it to you; look no further! This post will cover the differences, as well as help you determine how much life insurance you need to protect your family!

Term Life

Term Life Insurance is generally used to cover temporary needs; thus is bought primarily by folks between the ages of 18 and 50. You normally see this coverage in terms of 10, 15, 20 and 30 years; however, you can also get 1, 5, 25 years and anywhere in between. What it comes down to is this: What is your need? What are you trying to protect? And how long do you need that protection?

What is your need

When considering how much life insurance you need, there are a few different factors taken in to account. Income replacement, amount of mortgage left payable, kids college funds, car loans, etc.

If you were to not wake up tomorrow morning:

how much income would your spouse be losing? A safe area is to multiply your annual income for 10 years; however, depending on your household situation, 10 years may not be enough. What kind of situations would these be? Well, does your spouse work or have they been a stay at home parent? Will your spouse need any type of training to go out and become the breadwinner for your family? A lot of times the difference between what a family thinks they need and what they actually need, is absolutely huge!
would you be leaving your spouse with a mortgage on your family home? You always want to take into consideration what's left on your mortgage and car loans, if any, and add that to the income replacement.
how would your spouse put your kids through college? Again, figure out how much a 4 year college education is, add a little bit to it to take in consideration for inflation, multiply that by how many kids you have and add it to the above.
if your spouse doesn't work, do they have the skills to go out and get a job? Or do they need to further their education/training, to be able to become the new breadwinner?

Now after all of that is added up, you would subtract any current life insurance coverage thats in place, your spouses annual income (multiplied by how many years you did your income replacement for), and any other benefits that your spouse may be entitled to upon your passing. Your answer is how much life insurance coverage you should have in place.

Maybe you already have coverage and have been wondering if it's enough. Or you have been thinking about getting coverage, but didn't know how to calculate how much you need. You will now be able to calculate a fairly accurate amount of coverage.

Whole Life

Whole life insurance is permanent insurance. This means once you have it in place, as long as you pay the premiums as agreed, it will always be in place. Whole life insurance, is generally bought by folks 50+, and used for Final Expenses, also known as burial insurance.

This is because generally by the time you have reached the age of 50, you no longer have temporary needs. Your kids are grown and have already gone to college, more than likely your house and car are both paid off. So all you really need is enough coverage to ensure that your family doesn't bare the financial burden of ensuring your have the perfect funeral. These Final Expense policies are normally on the small side, between $15,000 and $50,000, sometimes all people need is only the amount for the funeral, sometimes people would like a little extra to leave to family.

Whole life insurance is also more expensive than term life insurance, which is also why it is bought in smaller amounts than you would see with a term life policy. But keep in mind, that if you are working with the right life insurance agent, they will find the perfect whole life policy to fit your needs and your budget; although, sometimes this means you won't get quite as much coverage as you wanted or you may have to pay a little bit more for the full death benefit amount that you want. But if you are working with an agent that has your best interest at heart, they will find what works for you and not what works for them!

I hope that if you have been putting off getting life insurance for one of the reasons above, that this article has helped you understand the differences between the types of coverage, as well as how to determine what your need is.

Flora Dahl
Independent Life Insurance Agent
National Producer #15707237
717-884-9310
florad@efinancialdirect.net
http://www.dahlinsurance.com

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July 14- 2010 Update "Whole Life Insurance" By Insurance Experts

2010-07-13T17:28:00.000-07:00

By Mark Prip

Making the decision to buy life insurance is very smart. It is just good sense to have a safety measure in place for your family in case something happens to you. The hard part is deciding what kind of policy to buy and who to buy it from. Most people just buy the cheapest possible policy so that they can feel safe, but this may not save them money in the long run. If you are interested in investing your insurance premiums instead of simply forking over the money to the insurance company, then you may be interested in a unique type of coverage: whole life insurance policies.

Whole life policies are unique in that the premiums paid on these policies are invested by the insurance company into stocks, bonds, and other financial instruments. The dividends from these financial instruments are what ultimately pay for the death benefit at the end of your life. The best part of it is that if your dividends exceed the death benefit, then your beneficiaries will receive a portion of that, too. This way, you are guaranteed some sort of return on your investment, and you may also receive more, depending on how the stocks perform.

Since it is up to the insurance company where they want to invest your money, it is important to make sure that the insurance company you choose has a good track record of sound financial decisions. A.M. Best Company has been rating and evaluating insurance companies for over a hundred years. If they give an A rating or higher to an insurance company (A+++ being the highest possible rating), then you can rest assured that their whole life insurance policies will most likely turn out to be profitable. Just make sure that you check a reliable source before committing to a whole life policy.

If the idea of investing your money in your insurance instead of just spending it on your insurance appeals to you, then you should probably take a closer look at whole life insurance policies. But be forewarned that this type of life insurance comes with higher premiums as a result of the benefits they offer. And you should remember that you will be paying these premiums for the rest of your life. Before you commit, you should also talk it over with your spouse. After all, your spouse is most likely the person who will have to live with your decision if something happens to you.

Mark Prip recommends checking out this unique site on Whole Life Insurance for more information.

Visit this informative Life Insurance site today at http://www.getlifequotes.com to run instant quotes and learn more about Life Insurance plans.

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June 24- 2010 Update "Whole Life Insurance" By Insurance Experts

2010-06-24T06:05:00.000-07:00

By Joshua Gryphus

Before we study the whole life insurance pros and cons, let us discuss what a whole life insurance policy entails. This is the most established sort of permanent policy to be found in the market. The ease of use as well as its stability makes it a popular alternative. Under the whole life insurance policy, you get permanent life insurance coverage throughout your life, generally till the age of 100. This policy does not lapse, provided sufficient premiums are paid each year for keeping it in force.

The premium as well as the death benefit quoted at the start of the policy remains almost same throughout. However, since the insurer invests your premiums, that policy can even accumulate cash reserves. The funds thus accumulated, may be used as premiums, saved or reinvested according to your choice. Apart from being a saving tool allowing you to create cash reserves on a tax-deferred basis, it offers stable insurance protection for a lifetime.

Pros

• The first advantage with regard to a whole life insurance is cash value accumulation on a tax-deferred basis. You may take a loan against the cash value, if you need at any point of time. You can even cancel the policy if you no longer desire insurance protection and get back the cash value. Upon death, the payment is free of income tax and the benefits can be transferred to a person outside the policyholder's estate.

• Unlike the term insurance, this policy will cover the entirety of a person's life. Thus he or she will get payment upon death, irrespective of whether death occurs at 25 or 90. Term policies expire after a definite time period. It can be renewed, but the premium cost will increase. However, the whole life policy premiums remain level so long the policy is active.

• The premium amounts to be paid at definite intervals bring in the forcible habit of savings in people, which prove to be advantageous in the long run. Whole life insurance policyholders can budget the premiums over a lengthy time period, thereby reducing the possible risks of the coverage not being within your means.

Cons

Some of the drawbacks associated with whole life policies are the following:

• As chances of death increases every passing year, the cost of this policy becomes higher. Many families will find this a costly affair and may turn to a cheaper alternative like a level term insurance.

• While a whole life policy may be a lifetime investment, the cash-in value turns out to be quite low as compared to different alternatives. Although there are guaranteed returns, it is seen that stock markets historically have brought about higher returns.

• Not all persons require a policy of this sort. Many individuals have bought wrong policies with coverage that is inappropriate for them.

• There is no scope for improving the returns by investing in bonds or stocks as the whole process is managed by the insurer.

To sum it up, a whole life insurance policy is not the perfect solution for everyone. It may so happen that you require the coverage till the time you have to handle the mortgage loan or your child's education is completed. In such a case, a critical illness insurance or level term insurance might prove to be more useful.

You can read about whole life insurance pros and cons or get a basic understanding of these annuities by reading this whole life insurance definition.

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June 04- 2010 Update "Whole Life Insurance" By Insurance Experts

2010-06-04T07:30:00.000-07:00

By Joshua Gryphus

Before buying whole life insurance the pros and cons should be considered carefully. You should gather as much information on different types of insurance policies when making your decision. This way you make a well informed decision; the right decision for you and your family.

Here are some of the pros of buying whole life insurance policies. These policies have a cash value that is accumulated within a tax-deferred basis. This means that at the time the policy begins to accumulate the cash value it is essentially tax free. While adding up its cash value whole life insurance policies allow for the insured to borrow against the cash value of the policy. The coverage for this policy is extended throughout the policy holder's entire life.

Irregardless to how old you are when you pass away or how much time has passed from the time of taking out the policy the insurance company is required to pay the death benefit. As long as you continue to pay the premiums for the policy within the grace period provided your loved ones are entitled to this death benefit. A whole life insurance policy also accumulates dividends. The rate of pay out will increase as the policy matures. These policies have a included inflation protection added so that the death benefits will not decrease due to inflation over the years.

One of the cons of buying a whole life annuity is that in the event the policy must be renewed the premium rates will not remain the same. There is an increase to this premium based on the rates available at the time the policy is renewed. The return on these policies is as little as 6% of the overall cash value. You can only purchase these policies from mutual life styled insurance companies. If the company were to fail or file bankruptcy you will lose coverage as well as the money you invested. Premium payments are required for no less than 15 years, and even then you may not be able to borrow off the full cash value.

The policies cash value is also based on the individual insurance company's yearly performance. So you may want to take it under consideration to do your homework on the many different insurance companies in your area. A company cannot predict their failure, however, it is better to go with a company that has a proven track record than one that is new to the game.

There are whole life insurance pros and cons if you wish to know more about life insurance read this whole life insurance definition.

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May 15 - 2010 Update "Whole Life Insurance" By Insurance Experts

2010-05-15T08:46:00.000-07:00

By K Hupp

Nearly everyone who has been in the market to purchase a life insurance policy has encountered the confusing assortment of plans for sale. Whole life and term life are the most widely purchased types of coverage. I will endeavor to clarify the dissimilarities and advantages of both term and whole life. Perhaps it will help make the subject a little less challenging for you.

Term life insurance is a simple form of coverage. Term life only provides coverage for the term of the policy. Term life insurance is usually the cheapest form of life insurance coverage. It does not build a cash value during the term of coverage. The only way term life can ever be collected on, is if you meet an early death during the time period set by the length of the plan. You can buy this coverage for a certain amount of years, and once the term has ended, you may either renew the policy for another set period of time or simply let it go.

The advantage of term life insurance is that it is the most affordable life insurance policy. Term life insurance will give you and your family the satisfaction of knowing they will be paid by the insurance company, in the event of your untimely death. This can take a large monetary burden from your family. There is no other type of life insurance coverage as basic as term life.

Whole life insurance is quite different from term life. It is a type of insurance that gives you coverage throughout your entire life, and has no set time limit. Whole life not only pays out to your beneficiary when you die, it also builds a monetary value. As time passes, whole life policies increase in cash value. To access the money your whole life policy has acquired, you will have to wait for a long time, but it never decreases in value. There are certain advantages to buying whole life insurance. If a person reaches the age of 99, they will receive the sum of all the payments they have paid in over the years.

A whole life policy gives a person flexibility with their coverage. One can often vary their premiums, and even adjust the amount of their coverage. Don't forget that you cannot let the cash value of your payments go below the amount of the coverage, so don't set your premium payments too low. The higher the amount of the premiums, the faster the account will grow into something usable. Since they function as an investment, whole life policies usually have higher rates than term life.

You will have to make a choice between a term and whole life policy. Don't rush to purchase an insurance policy until you have given careful consideration to which type is best for you. The policy that works best for you will depend on your own individual set of circumstances. You should give some thought to the type of coverage you want, and the amount of coverage you need, before obligating yourself to pay a monthly premium.

When you are working with a tight financial budget, term life may be the best choice. Elderly people sometimes find that term life is all they can afford, and also the only type that they meet the requirements for. Term life is often selected by younger people because of the lower premiums. They can use the money they saved, by not paying for more expensive whole life premiums, for other bills and obligations.

Even as term life insurance would seem to be intended as a solution for a comparatively short period of time, generally 10 to 30 years, whole life coverage is more advantageous for the long term. To get the best deal on a whole life policy, a person should purchase a policy while they are still young and in good health. It is a good choice for those who have built more assets and accumulated more money. When an individual has retired from the workforce, they may want to use some of the money invested in their whole life policy to fall back on. It usually has a much higher pay out than term life, as well.

You can now use the internet to find coverage amounts offered, and get individual quotes, for both term and whole life policies from many different insurance carriers. Use this to your benefit to make sure you aren't going to be over charged before purchasing your next policy.

K. Hupp enjoys cooking and gardening. Visit Cheapest Life Insurance and Life Insurance Comparison to find a great deal on coverage.

April 24 - 2010 Update "Whole Life Insurance" By Insurance Experts

2010-04-24T06:57:00.000-07:00

By Richie Setiawan

Speaking of life insurance, it is often the case that a lot of people living on this planet will turn their faces away in no time at all. They will not even be willing to pay just a little attention to what is known as such insurance. However, it is unwise to blame those people. They have a logical reason behind their actions. Well, at such tough economic times as today, chances are no one will want to have to spend the money they earn hardly on any extra expense and most people will often consider life insurance as an extra expense.

To tell the truth, however, such insurance is indeed not an extra expense. What most people are usually not aware of is that the rates or costs that may incur are often even lower than their expectations. The people will only have to choose the most suitable plan from the various insurance plans available. However, one recommended option is the whole insurance.

Whole life insurance is a financial protection that is designed to financially protect the insured parties for as long as they live. Unlike the term plan which offers financial protection for a limited period of time, the whole life insurance offers financial protection for the insured parties during their lifetime. This is a good thing especially for those people who will not want to sign up for another life insurance in case their protection period has run out.

Yet, even though the protection lasts for a lifetime, it does not necessarily mean that the insured parties will have to pay quite a huge pile of their hard earned money to remain eligible for the protection. There are in fact various sources where they may obtain low whole life insurance rates. Also, another good thing about such insurance is that it offers comprehensive protection for those people who sign up for it. And, if the insured parties happen to experience death, the beneficiaries will be able to take advantage of the financial protection so as to go on their lives. This way, the insured parties will not leave their beloved family members behind without any financial capability.

Whole life insurance is a financial protection that every single living person in this world should indeed take into consideration. Besides offering low rates, the whole life insurance will enable the insured parties to leave their beloved family members with reliable financial capability should the insured parties experience death at any given time. Although death is something that no person likes, it is also something that no person will be able to avoid.

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Mar. 26 - 2010 Update "Whole Life Insurance" By Insurance Experts

2010-03-26T06:01:00.000-07:00

By Gert Hough

Would you benefit from buying a whole life assurance policy? If you think that you may need life cover for when you are 70 years and older, you may consider this type of life cover policy. We can now take a quick look at some of the basic features of a whole life insurance cover policy.

A Definition Of Whole Life Insurance

Whole life cover offers death protection for the whole lifetime of the insured person. A whole life assurance policy has two parts. The mortality charge is the first part of your premium that pays for the insurance coverage. The second part or rest of the premium goes toward an investment component that earns interest. When the contract holder dies, the insurance payout is made to the contract's beneficiaries.

The Whole Life Insurance Premium

The policyholder typically pays a level premium for a whole life cover policy. This is a premium which does not go up as the person ages.

The Whole Life Insurance Investment

A whole life policy incorporates an investment component. This gathers a cash value that the policyholder can withdraw or borrow against. Life assurance companies traditionally invest insurance premiums in stocks, bonds and real estate in order to create boosts in cash value for policyholders. The policy's returns may rise and fall with the markets. It will typically gather less returns than those available from other investments such as equity mutual funds.

Whole Life Insurance Dividend Paying

Insurance Companies may credit the investment part with an annual dividend in addition to interest. This will depend upon the insurer's loss experience and investment performance.

The Cost Of Whole Life Insurance Whole life cover can be really expensive. You may not be able to afford all the insurance coverage you need if you are on a tight budget.

Other Whole Life Insurance

There are several types of whole life assurance policies. Here are 7 traditional forms:

Non-participating: The death benefits, cash surrender values and premiums of the policy are determined for the life of the contract when the policy is issued. It cannot be adjusted afterward.

Participating: With this policy the insurance company shares any surplus profits with the policyholder. These are the dividends the company may add to the policy investment.

Limited pay: Premiums are only owed for a certain number of years instead of paying annual premiums for life.

Single premium: The premiums are limited to a single large payment at the beginning of the life cover policy.

Indeterminate premium: The premium may differ from year to year, but it can never exceed the maximum premium guaranteed in the policy contract.

Economic: This is a combination of participating and term life cover. A part of the dividends is used to pay for additional term life cover.

Interest sensitive: The interest on the cash value of the policy fluctuates with current market conditions.

The Whole Life Insurance Guarantee

A life cover company will normally guarantee that the cash value of the policy will increase in spite of the performance of the company or the amount of death claims it receives. We have now finished taking a quick look at the definition of whole life insurance as well as some of the general aspects of whole life cover.

Whole Life Insurance Definition: -- whole life insurance definition

Terrorism Risk Insurance Act: -- Terrorism risk insurance act

Mar. 06 - 2010 Update "Whole Life Insurance" By Insurance Experts

2010-03-06T09:10:00.000-08:00

By Marilyn Katz

In order to understand this type of policy, I think it is best to look at the main features. Then we can contrast it to other types of coverage you may purchase. This will help you understand why people choose whole life, or why they prefer another type of policy.

Guaranteed Coverage for a Lifetime - These are permanent policies. This means as long as the policy is kept in force, it will still provide coverage at a fixed premium. It does not expire after a term. Some policies have provisions to pay out the death benefit at a certain point, like age 100, even if the insured person is still alive. This lifetime coverage is why many people consider this product for retirement age life insurance.
Fixed Premiums - The premiums to fund the actual insurance are set for the policy lifetime. Be aware that some term policies may only guarantee premiums for a few years, and not the whole time length of the contract.
Possible Asset Growth - Any money that is over the amount it takes to actually pay for the coverage can actually grow a cash value. A whole life policy can actually be an asset because of this if it has been in force long enough to grow a cash value. While many experts would contend that most whole life policies are not the best way to save money, some types of policies are specifically designed to serve double duty as both insurance and savings. Some pay a fixed interest rate. Others are actually pegged to grow at some market index, like the S&P 500. The cash value could be borrowed against or cashed in by the policy owner.

Advantages of Whole Life

Why do people buy permanent coverage? Here is a short summary of some good reasons to consider lifetime policies.

It provides lifetime coverage.
Premiums do not increase.
Some policies can be paid up of a period of time, and so you can have lifetime coverage without worrying about future bills.
It can grow a cash value that can be borrowed against or cashed in.
Many smaller face value policies are especially designed for older people, so it can be one way for older people to find a policy that will accept them.

Disadvantages of Permanent Life Insurance vs. Term

Not everybody buys whole life, and in fact more people probably buy term these days. What are the drawbacks?

It costs more. Because it provides lifetime coverage, and because it may grow cash value, it will cost more than temporary coverage that does not have the other features.
Because of the cost, people can afford to purchase a lot more coverage if they choose a term life policy.
Some term policies can be converted to permanent policies at a future date. This could give a person the option to purchase a higher face value now while they have kids to support or a mortgage to pay off. Later, when they just want enough of a death benefit to pay for final expenses, they could covert their policy without having to prove they are healthy.

Which Type of Policy is Best For You?

That question would be answered differently for different people. Sometimes the right answer is to buy both so you have covered all of your bases. Other times you may just want to purchase temporary coverage now, but make sure it has an option to covert to permanent later.

Do you have more questions? Visit us to learn more - What is Whole Life? We can also help you compare policies and quotes from the top life insurance companies.

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Feb. 13 - 2010 Update "Whole Life Insurance" By Insurance Experts

2010-02-13T04:58:00.000-08:00

By Scott Storace

Whole Life Insurance, Universal Life, Variable Life, Term...with such an array of life insurance options available, it's easy to get lost in the confusion of what type of insurance is best for your life circumstances. Let's start by looking at the pros and cons of each type of life insurance policy.

Term Life Insurance
The biggest upside of term insurance is that you get life insurance at very inexpensive rates, at least in the beginning. Term life insurance is very cheap if you buy it young. And for the first years of your policy it will remain inexpensive. But as you age, and as your actuarial factors change, your premiums will increase--sometimes dramatically.

Most people either drop or convert their policy to permanent life insurance when this happens. In fact, a 1993 Penn State University study found that only 1% of all term life policies were ever paid out. In truth, term life insurance is really designed for one benefit--to provide a cash settlement for your family in the event of your death. This is why term life insurance is often referred to as renting life insurance versus owning. It can be a great buffer against unforeseen tragedies, and can, in the short term, provide necessary, inexpensive coverage. But as a long-term solution, it doesn't hold up.

Universal Life and Variable Universal Life
Universal life coverages combine the benefits of whole life insurance with some other flexible features. Like whole life policies, universal life allows you to accumulate cash on a tax-deferred basis. The cash you contribute will be invested by your insurance company and the profit from those investments are applied to the cash values of your policy tax-free. Investments are handled by the insurance company and are usually in bonds and money market funds. Investment profits can sometimes be applied toward premiums; the flipside of that being that in years of poor investment performance, your premiums could increase.

Variable Universal Life is universal life but it allows you to invest your cash values in the stock market. Essentially it puts you in control; you'll choose where your cash values are invested and all earnings within the policy are tax free. Because the stock market historically outperforms other investments, the potential for greater returns is significant.

But the stock market is volatile and cash values within this type of policy can fluctuate up or down depending on how the markets are performing. Many of these policies are sold using illustrated returns that are truly not indicative of what actually happens. In 2008, when markets were at all-time lows, sales of both universal life and variable universal life insurance dropped off considerably while people sought safer investments and either the guarantees of whole life or the cheap cost of term life insurance.

Additionally, the cost of these types of insurance is expensive and they do not offer the best protection or guarantees in the long term. The internal cost of the life insurance within these policies is often very steep and can offset the investment gains.

Whole Life Insurance and the Dividend-Paying Difference
Whole life insurance is also called permanent life insurance. You can also say it's, "What you see is what you get." That is, what's illustrated in the contract is guaranteed to happen. You pay a set premium for the duration of the policy and upon your death, your beneficiaries will receive the exact amount of your policy's stated death benefits. Like other cash accumulating life policies, the cash values within your whole life policy grow tax free.

But even whole life policies can vary in what they offer. Dividend-paying whole life insurance, for instance, provides the safety and security of whole life, while also providing performance-based dividends. A dividend paying whole life policy will pay dividends to its policyholders based on the company's annual profits. Like universal life policies, the company makes investments for policyholders, using the paid premiums. But there are some important differences.

With dividend paying whole life policies, investments are made in very safe financial instruments such as bonds, and they also diversify by industry, maturity & geography. This keeps costs and risks very low, and profits very steady.

As the cash values of a dividend paying whole life policy accumulate, policyholders are able, and even encouraged, to borrow money from the account for personal financing. This is often called self-banking or the Infinite Banking System. The Infinite Banking system's whole life policy is structured to maximize liquid cash values instead of concentrating on the death benefit. Which means you can enjoy your money now and still leave a financial legacy for your heirs.

What the Infinite Banking System does is make you the bank. You will save with your bank (premiums), you will borrow from your bank (tax free), and when you pay interest on your personal loans, you'll be paying yourself. So instead of paying out interest to a bank or other financial institution, you make money on yourself. The dividend-paying whole life insurance policy provides the financial structure to make this concept possible.

There are numerous other benefits associated with dividend-paying whole life and the Infinite Banking Concept. Cash values within your policy accumulate free of tax. Distributions from your cash value via personal loans are also tax free. Withdrawals from the policy can be made tax-free up to your basis, or the amount you have contributed to the policy. Additionally, the death benefit proceeds pass to your heirs income tax-free.

The Company You Keep...
With these types of insurance policies, it is wisest to choose a mutual company as opposed to a company traded on the stock market. In a mutual company, the policyholders are the owners. So, the policyholders will be the first in line to benefit from strong company performance.

A stock company, on the other hand, is owned by its stockholders. It will be run by a board of directors who are trying to get the best return on investment for their stockholders, not their policy owners. This can make a huge difference in investment profits and dividend earnings.

Scott Storace is a financial expert that teaches the Infinite Banking concept utilizing whole life insurance. This concept creates financial wealth by creating your own personal bank. Get your free Infinite Banking report for more information on the concept.

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Jan. 25 - 2010 Update "Whole Life Insurance" By Insurance Experts

2010-01-25T09:28:00.000-08:00

By Denise M

Permanent life insurance or a whole life insurance policy, as it is often called, is life insurance that offers financial coverage for the beneficiary in the event of the policy holder's death. As the name implies, it is coverage that is permanent, as long as life lasts. The premiums usually remain steady during the entire period. One of the main advantages in a permanent life policy is that it accrues cash value over the years. In some policies, cash value can be used to pay off premiums in the latter years of the policy.

There are pros and cons to every subject and permanent life insurance is no exception. If you are considering purchasing a permanent life policy, here are a few pros and cons you should consider:

Pros

A permanent life policy accrues cash value. It may not give you the same kind of profitable returns as a mutual fund or other investment options, but it does add investment value for money that you pay as premiums.
It is permanent. You have the safety of coverage for life.
The premiums are fixed. You do not have to worry about rising premium rates for your entire life.
You can surrender the policy at any time, and receive a full refund of premiums paid to date along with the cash accrued.
You can withdraw from a permanent life policy. If situations in your life arise requiring the need for extra cash for unplanned expenses, you have the option to withdraw from your whole life policy, tax free.
Permanent life policy can be used as collateral against bank loans.
After an initial stipulated period of perhaps six months, a permanent life policy does not lapse, even if premiums are not paid. Premiums will be paid using the cash value accrued. However, your death benefits may be altered because of lapse in premium payments.

Cons

You may not need coverage for life. Most people need life insurance coverage when they have debts to pay, or families to support. People in their senior years may not need coverage at a time in their life when kids have grown and do not rely on parents for their financial support.
When compared to term life insurance, premiums for permanent life insurance can be four to ten times more expensive. If you're on a low budget, permanent life insurance may not be a suitable option for you.
The extra you pay in premiums for a permanent life policy could fetch you higher interest if you were to invest that same amount in an investment of your choice. Permanent life policies do not allow you to control the investment choices. This is left to the prerogative of the insurance company.
There are no added benefits combined to a permanent life policy, such as retirement benefits, etc.
Withdrawing money from a permanent policy can be a complicated, time-consuming procedure when compared with bank withdrawals.
Outstanding premium payments, or withdrawals on your policy will reduce the face value of the policy.
Premiums need to be paid lifelong, or at least up to age of 100.

A whole life or permanent life insurance policy has some unique advantages. For those who can afford the premiums, it certainly offers you benefits that better suit long term financial planning. It is certainly a good option if an individual needs tax benefits and cash value along with protection for loved ones.

Online insurance quote providers can quickly provide you the best quotes from reliable insurance companies based on your specific needs. If you are not sure which type of insurance policy would best suit your personal situation, many online insurance quote providers offer professional support services with knowledgeable representatives who can help you with your queries and recommend the best policy for you. It is advisable that you look for sites that are not affiliated to any particular insurance company in order to receive professional and unbiased advice. Make sure you use sites certified by the Better Business Bureau for a safe experience with internet insurance quote providers.

AccuQuote is a leader in providing term life quotes to people across the United States. In 1986 it began operating with a single goal: to make the process of buying term life insurance as easy as possible for its customers. Their experienced professionals consistently deliver the most affordable term life insurance rates by comparing thousands of life insurance policies from dozens of top-rated carriers.

Article Source: http://EzineArticles.com/?expert=Denise_M

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No Medical Exam Life Insurance Pros and Cons

By Marilyn Katz

Should you buy life insurance without a medical exam? If you watch any TV or surf the internet, as most of us do, you are bound to find a lot of large insurers who advertise that their own application process does not require a physical. This has to appeal to many people because it seems simple and non-invasive. However, are these offers the right choice for you?

Advantages of No Physical Life Insurance

The application process will usually be very simple and quick. You may have to answer some health questions, though some of the newer policies do not require a lot of time to fill out. You may choose to visit with an agent, but these days, you can find many companies who will allow you to fax, email, or fill out an online application. You can even get your quotes online too. This should save you a lot of time. In addition, it should protect your privacy.

You do not need to set aside time to go to a doctor's office, or to meet with a paramedic in your home. For today's busy families, this can be a very important advantage. Even though insurers usually pay for the exam, it can take up a lot of time. And most of us know that our time equals money.

Applications may also be processed very quickly because the insurer does not have to wait for a medical office to send in test results. In fact, some online insurers are advertising that applications can be processed in days or hours.

Insurers save some money with an application process like this too, and as you know, insurance rates have actually dropped in the last decade. Now, this is not the only reason that premiums have gone down, but it is one factor. If processing applications is cheaper for insurers, they can pass some savings to consumers.

Disadvantages of No Medical Exam LIfe Insurance Policies

Some very healthy people may be able to get lower rates by going through the whole application process. The very best premium ratings are often reserved for fully underwritten policies. Full underwriting means going through the whole process which can include a physical and detailed application process.

Is this a big factor? Well, for smaller policies and younger people, it probably won't matter very much. And these younger people, in great shape, would be the most likely to qualify for the cheapest rate classes.

For a very large life insurance policy that is written upon a middle aged person, the premium difference could be considerable. However, you need to consider if you could qualify for the most restrictive rate band anyway. Most of us cannot. In general, these classes are reserved for nonsmokers with a very good weight to height ratio, few health risk factors, and no evidence of preexisting conditions. The cholesterol or blood pressure issues we tend to develop as we age, will not preclude us from getting a policy, but it will probably keep many of us out of the best rate classes.

Really, the best thing to do would be to compare quotes that the major insurers offer you. If you decide that the premium difference is worth the effort, and believe you can qualify for a cheaper rate class, it is worth it to go through the full application process. However, if the rates will be almost the same, it may be a big relief to skip the physical!

Let us help you find and compare no medical life insurance with our fast, safe, and free quote forms!

Older people will be interested in no medical life insurance for seniors.

Article Source: http://EzineArticles.com/?expert=Marilyn_Katz

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Jan. 06 - 2010 Update "Whole Life Insurance" By Insurance Experts

2010-01-05T22:55:00.000-08:00

By Ryan Richardson

If you've decided to start searching for whole life insurance quotes you've made an intelligent decision. Getting multiple quotes from a number of different insurance providers is the fastest way to make sure you're getting the best price for the coverage you need. Being able to compare the coverage options and rates of a number of companies side by side makes finding the right company for you a simple and efficient process.

There is an ongoing debate among experts about whether a whole life policy or a term policy is the better choice. Some experts will always say that a term policy is best because it is less expensive and that you would be better off taking the money you save with this less expensive option and investing in yourself. For some people that would be a better option but it is irresponsible to make a blanket statement that one way of doing something is the right way for everyone. There are many different types of life insurance today and each one has their pros and cons. It's a good idea to take a look at the benefits of all of the different types to decide which one would be right for you.

There are some benefits to a whole life policy that make it the perfect choice for a lot of people. This type of coverage never expires and as long as you make your premium payments you will be covered for the rest of your life. It also accrues a cash value over time. The cash value grows tax deferred which is another big benefit. Because of the fact that a whole life policy builds cash value and never expires it is a good option for people that are interested in estate planning and want to leave something behind for their heirs in addition to making sure there are funds available to pay for funeral costs, estate taxes, etc.

It's a good idea to consult with a financial planner to carefully weigh all of the different options available to you. Once you've decided which type of life insurance would be best it's time to start doing some comparison shopping. There are a lot of resources online that allow you to get the current prices and coverage options from a number of different companies from one website. This makes your research far more convenient. Being able to get all this information from one website allows you to compile all of the information you need in just a few minutes rather than visiting one site after another in filling out countless forms. You can fill out one short form, click a button, and almost instantly have multiple quotes from a number of different companies.

Get free life insurance quotes - quickly and easily find the best possible price. Or to see a list of highly rated life insurance providers in your area click here!

Article Source: http://EzineArticles.com/?expert=Ryan_Richardson

When a Whole Life Insurance Policy Makes Sense

By Frank Rodriguez

There many times when a whole life insurance policy make sense for a person considering taking out a life insurance policy of some sort. Usually, whole life insurance policies have been structured to deliver quality insurance coverage for the person ("the insured") who has taken the policy out. These kinds of policies come with a number of attractive features to them, also.

In most cases, a whole life policy features a fixed premium that pays out a set level of cash as a death benefit, with that premium being paid over the life of the policy. Coverage is lifelong, in other words. They can make for good investments because of the cash value element of a whole life policy. In other words, you can pay for life insurance while also building actual value in the policy.

For anyone who is considering the purchase of this sort of insurance it is worthwhile to take the time to learn aspects of the policy. For one, it is both permanent and lifelong and any premiums paid come attached with a savings element that can result in a significant amount of money being built up in the policy over time. They can also be included in estate planning, too.

Is usually the case that initial payments when purchasing a whole life policy will be higher than the payments that one would pay if taking out a term life policy. However, because the premium payments are fixed at a certain rate for the life of the person being insured is many times the case that a whole life policy can be less expensive overall, especially when people age and term life coverage payments skyrocket.

The biggest difference between a term life insurance policy and whole life is that whole life insurance last for the lifetime of the person being covered while term life lasts only for the defined term, which is usually in ten-year increments. If the policy is renewed at the end of that ten-year period, the premium payment is usually higher, which will be especially so if the person has grown much older.

There are several different kinds of whole life insurance policies, with most differing and how premiums are paid or benefits are paid out. These include level premium whole life all of these, single premium whole life policies and also limited payment whole life policies. Consider carefully what kind of whole life is going to be taken out and how it can affect any estate planning.

Almost every whole life insurance plan features set premium payments that will not rise as the person becomes older or suffers from most medical conditions, but there are a couple of variations that are offered that will feature a low payment initially with higher payments over time. All of these policies, though, feature cash value and savings elements that can make them attractive.

There are many positive attributes to a whole life insurance policy, most experts would say. These include those cash value and savings elements that can help to make a policy that has been held for some time quite valuable in terms of the cash value and savings within them. Also, these policies can be borrowed against and money that has been saved up in them can be pulled out in certain cases.

You can get more info on how the whole life insurance policy works by visiting the website. You will also see the universal and term life insurance policy evaluated.

Article Source: http://EzineArticles.com/?expert=Frank_Rodriguez

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Dec. 19 -2009 Update "Whole Life Insurance" By Insurance Experts

2009-12-19T05:55:00.000-08:00

By Chimerenka Odimba

We all know that life insurance is very important. However, we all need to understand the advantages and disadvantages of each so we can make an informed decision. We will examine whole life insurance policy.

Whole life cover is basically a type of life policy that is termless. This means it has no expiry date. The cover remains in force until the death of the insured when the claim would be paid to his or her beneficiaries.

This type of life coverage builds cash value over time. In fact, it is more or less used by many as an investment tool as you can use it as collateral to get a loan.

As it builds cash value, you do not have to pay any tax on it. You only pay a tax when the benefit is paid or the funds withdrawn.

This type of policy is ideal for people who want to leave something substantial for their children or grandchildren since it build cash value over the period it is in force.

To look at the other side of whole life insurance, that is the disadvantages, we would mainly be referring to the cost implication.

This coverage is much more expensive than other types like term life insurance coverage.

If you want to get whole life coverage at a cheaper price, your best bet is to get and compare quotes from quotes comparison sites.

If you go online right now to any reputable quotes comparison sites, you can get immediate quotes from several insurance companies. if you visit up to 5 comparison n sites, then you would be surer of getting your life coverage at the most competitive rate.

Get covered at a cheap rate now. get life insurance quotes.

How do I start my quotes comparison?

Here are two great sites to start your quotes comparison.

Life Insurance Quotes and Insurance Quotes!
Chimerenka Odimba is the publisher Several finance based sites.

Article Source: http://EzineArticles.com/?expert=Chimerenka_Odimba

Can't Decide Between Term and Whole Life Insurance?

By Justin Stowe

"Should I get term or whole life insurance?"

This is probably one of the most common questions out there, and hopefully this article will help answer your question.

The best way to help you determine whether you should get term or whole life is to look at the benefits of each:

Whole life insurance:

Benefits:
1) Fixed rate forever!
2) Can be less expensive in the long run
3) No worrying about your policy terms and conditions changing

Drawbacks:
1) Less flexibility
2) More expensive (relatively) in the early years when income is lower.

Term life:
1) Fixed rate for the term period
2) Very flexible
3) Easily set up to last just the right amount of time (mortgage is paid off, kids graduate, etc.)

Drawbacks:
1) Can be more expensive in the long term as premiums increase with renewals
2) Premium increases can be dramatic after a long term

Other questions you should ask yourself are:

1) Do I plan on having life insurance forever?

2) Can I afford the higher premiums of whole life right now?

3) Do I want to be able to easily switch my policy every few years with term? Or build a relationship with a whole insurance provider?

Once you've answered these questions and looked at the benefits of each, you can more easily decide whether you want term or whole insurance.

Basically term insurance is better in the short run (meaning 30 years or less) to help you protect your loved ones in case your income stream disappeared.

Whole life insurance is better for the long haul if you plan on having life insurance for a long time and can afford the higher premiums right now.

Want to Know More?

Click HERE for More Information on Term vs Whole

http://www.toptermlifeinsurance.com

Article Source: http://EzineArticles.com/?expert=Justin_Stowe

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Nov. 29 -2009 Update "Whole Life Insurance" By Insurance Experts

2009-11-29T05:32:00.000-08:00

By Justin L. Morrow

Since purchasing a life insurance policy is one of the necessities in life, it is important to get one once you are at the right age. Because of this, there are several life insurance available to everyone. There are even a few insurance policies which are dependent on how long you will need them. Such insurances have been called the universal, term and whole life insurance. Once you have determined which insurance policy you will need, it is then important to know how much they will cost. Considering today's health issues, people will normally choose the whole life plan because of the benefits that it has. And for that, this article aims to provide whole life insurance quotes and how you can get one.

Nowadays, there are two ways you can get an insurance quote for whatever service you will need. You can easily get a life, car, house, health insurance without having the need to go through the stressful process of getting one. It is easy to get an insurance quote either in person or by the use of the internet. If you, however, chose to get an estimate in person, this will be a bit harder than the other option available. This is because you will have to go through the enlisted companies in the phone book or the local newspaper in order to find the companies available. Once you have found them, you have to make a visit to them in person during their business hours so that you can get an estimate on your insurance policy.

The process of deriving with an estimate is easy though. This is because representatives will normally ask questions from you or even require you to accomplish a form that you can hand over to them in person. Once they have determined what insurance type you need and have made a judgment based on the data you have provided, they will be able to give you an insurance quote that you can go over. This will then be your basis if you would like to avail of the insurance from them or from another provider.

The other way you can get an insurance quote is to go online. There are several businesses nowadays which specialize in providing instantaneous quotes from the insurance companies in the United States. While there are some quotes which cost some money, there are others that are completely free. In order to derive with an estimate, websites will also require you to fill up a form.

A reason why getting an insurance quote through such websites is more favorable is because they can provide you with several different estimates from various companies in just a few seconds. The quotes they have provided can also be used for a fast comparison. Lastly, it limits the time you spend in trying to find the available companies and going through each of their whole life insurance quotes.

I did a little research for you. Go here for more information and resources on whole life insurance quotes. A simple, easy to understand life insurance guide and resource: http://www.WholeLifeInsuranceAdvice101.com

Article Source: http://EzineArticles.com/?expert=Justin_L._Morrow

Is it a Wise Decision to Purchase Whole Life Insurance As an Investment?

By Adam Hefner

If you have made a decision to get a whole life insurance as an investment for yourself, then you should read this article. This is because this type of insurance covers you throughout your whole life as compared to the term life that only covers you within a certain period of time. Along with this whole life insurance, there are two main components involved. These are the mortality charge and an investment component. The mortality charge pays for your insurance coverage while the latter is able to earn interest and claims that it acts as a way to save your money.

Although there are instances wherein this policy can offer an excellent opportunity for investment, this may not always be the case. The decision whether or not you have made a wise investment depends on several existing factors. Some of the factors involved are the age, financial, and health conditions of the potential policyholder. In addition to the above mentioned factors, there are some companies which offer a much better potential for investment as compared to the others.

A good example for determining if the investment is a wise move or not is if you are starting a family after you have turned 40. Purchasing the whole life insurance policy may be a wise decision as the premium cost can be compared to that of the term life policy if you have reached this age. In addition, term life premiums can become more expensive if you would like to be insured for an extension of 20 more years after you have reached 40.

In addition, people who encountered a chronic health problem or a serious illness may even find that the term life is more expensive as compared to the whole life insurance. There are also some people who will have a hard time qualifying for the term life insurance. In comparison, several whole insurance policies provide a more stable premium throughout the policy's whole duration. Also, if you possess a large fortune, you can greatly benefit from developing an insurance trust along with your whole life policy. This is because this trust may be used in order to pay inheritance taxes, probate fees and the other expenses which are estate related. Lastly, several whole life insurance plans do not need beneficiaries who will pay the payoff taxes.

But if you are only after a short term investment and you do not wish to hold an insurance policy for such a long period of time, it may be a better option for you to get a term insurance instead. If this is what you want, purchasing a whole life insurance as an investment is not a wise decision.

I did a little research for you. Go here for more information and resources on whole life insurance. A simple, easy to understand life insurance guide and resource: http://www.WholeLifeInsuranceAdvice101.com.

Article Source: http://EzineArticles.com/?expert=Adam_Hefner

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Nov. 13 -2009 Update "Whole Life Insurance" By Insurance Experts

2009-11-13T05:57:00.000-08:00

By Jay LaGrange

While it may not seem as exciting as buying an Xbox or other gadget, investing in life insurance for your child can open up new possibilities for your kids as they get older. Whether they want to travel the world or put a down payment on a house, they'll have the option to if they decide they don't need the insurance and cash the plan out.

But in order to receive these benefits, you'll have to make sure to make the right choice. Here are three things to consider:

1. Will Your Child Receive Special Perks Upon Turning 18?

Some programs offering deals on life insurance for children will include special deals such as doubling the size of the coverage once your child turns 18. This can happen without raising the premium that you would have been paying.

2. Does The Insurance Build Cash Value?

Choosing whole life insurance over term life usually has the advantage of building cash value. The same should apply to any insurance you buy for your child. Again, this is a huge gift you can give your child because eventually the insurance can reach a full maturation. With a small investment over a few years, you'll help your child pay for their first house or to truly pursue their dreams by opening their own business.

3. Will Your Child Be Guaranteed Insurability as an Adult?

One option you should think about is whether or not your child can receive more coverage as an adult. Some programs will allow your child to buy life insurance even if they wouldn't qualify under any other programs. An option like this helps you take care not only of your children but your future grandchildren too.

Are you ready to join the thousands of parents just like yourself who are reaping the benefits of insuring their child at an early age?

If so, I invite you to visit http://www.AffordableInsuranceForChildren.info to get a FREE no obligation quote on a whole life insurance program for your child.

Article Source: http://EzineArticles.com/?expert=Jay_LaGrange

A Life Insurance Policy and the Importance of Getting it Right

By Andrew Stevenson Ph.D.

If you are considering getting a life insurance policy so your loved ones will be protected in the advent of your early demise then it is important to know what any polices principle benefits would be. Knowing exactly what the life insurance policy involves such as the cost of the premiums and the expected pay out to your beneficiaries should be a priority for you.

The principles that you should know and understand are as follows. It is of utmost importance your family should be adequately provided for in the event of your early death. Imagine the costs of any medical bills, funeral costs then add to that the loss of any income from the principle bread winner of the household. There is the cost of day to day living, the cost of any education for your children, the cost of any home loan repayments, here a cost there a cost everywhere a cost.

So it is easy to see it is very very important that you must get your life insurance policy choice right. Your loved ones will be already grieving over you and don't need any financial worries on top of this. So your insurance policy will offset all these expenses and help alleviate all the worries associated with them. If you were to pass away in the near future how would your family cope?

Any income you were previously bringing in would cease to be. The stresses and burdens that would now be upon your loved ones would be extreme. Now it is so easy to get online and research life insurance policies and find the exact one that is right for you. Look around and get free quotes online remembering there is absolutely no commitment required in the life insurance quotation process.

Just remember to try and get something happening as it will put your mind at easy. Let the process of looking for a life insurance policy begin today.

For a service that is totally free and so easy to understand please visit http://bestlifeinsurancepolicy.org/

You can find plenty more easy hints and tips on how to find the best insurance premiums to suit you here Life Insurance Policy

Article Source: http://EzineArticles.com/?expert=Andrew_Stevenson_Ph.D.

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Oct. 26 -2009 Update Whole Life Insurance By Insurance Experts

2009-10-26T08:54:00.000-07:00

By Frank J Thomas

Knowing just a bit of a life insurance, I have a lot of friends ask me this particular question. Should I get life insurance and if I should what type of insurance should I get and how much? This is the topic of much more than just a small article but let me give you some insights that may help you on your quest to answer this question. First off, should you get life insurance? If you're eligible to get life insurance I would wholly recommend it. Most people believe that the insurance offered by default at their job is more than adequate to cover needs if they become disabled or pass away. This is furthest from the truth. The cost of being disabled or death is quite expensive.

This expense is aggravated if you leave behind people who depend on you financially. This actually starts to answer the next question of how much. It is reasonable to consider your yearly salary after taxes, then multiply that number by 10. This is a rough start to how much insurance you should have. For example, if you earn $55,000 per year after taxes then you should consider holding at least $550,000 of insurance to cover your family's needs for at least 10 years. I would consider this a conservative figure. If you're single and you have no dependents, you could probably suffice on $50,000-$100,000 of life insurance. This would permit your relatives to cover all the expenses plus a little bit for their time in settling your affairs. If you have any debt, make sure that your life insurance is topped up to cover this is as well.

Next comes the question of what type of insurance should you get? This is a little more tricky. I personally hold term insurance as well as a form of whole life insurance. The difference is term insurance has no physical value. If you cancel your policy then your business with the insurance companies finished. The only time that term policy pays out is if you are disabled or die. Even so, you may only have a policy that covers death. This will normally be the most inexpensive policy that you can get. But then there is whole life policies. A whole life policy is more expensive on a month by month basis but it does have an investment component built-in. The whole idea is that one day the policy will be funded enough that you will self insure yourself. Or if you desire to withdraw the policy before it matures it may have component that has value.

I believe that if you can afford the expense of a whole life policy then this may be the best way to go. But if a whole life policy is too rich for you at this point in your life that term policy is a definite way to go. Regardless of your personal status, no insurance is not a good idea.

Frank has been an avid blogger and article author for about two years. Check out his latest website http://www.wirelessweatherstations.net/. He has information about wireless weather stations.

Article Source: http://EzineArticles.com/?expert=Frank_J_Thomas

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Overweight Subject to Higher Life Insurance Rates

By Tom Lustina and Kyle Fitzsimmons

Insurance is a numbers game. Statistics, trends, and factors shape how high or low your life insurance quotes will be and unfortunately, the numbers aren't on the side of overweight individuals.

But what exactly is considered overweight? Most insurance companies require a medical exam which includes a reading of your body mass index, or BMI. If your BMI is between 25 and 29.9 then you are considered overweight and if your BMI is more than 30 then you are considered obese.

Insurance companies do not discriminate against overweight individuals for no good reason. Being overweight makes you more prone to deadly diseases such as:

• Osteoarthritis
• Hypertension/high blood pressure
• Dyslipidemia/high cholesterol
• Type 2 diabetes
• Stroke
• Coronary heart disease
• Respiratory problems
• Gallbladder disease

Lose Weight For Your Health, Life Insurance Rates

Insurance can be purchased anytime so don't let your weight limit you to higher insurance rates. Use low cost life insurance rates as extra incentive to eat healthy, exercise and shed the extra pounds. The results will be a healthy and happy individual with affordable insurance rates and the time and energy to spend with your family well into the future. So talk to an insurance agent today about how weight and other factors affect life insurance premiums and get on the right track to savings and good health.

To learn other factors which impact insurance, and/or for insurance quotes from up to five local agents, visit InsuranceAgents.com. Fill out a simple form and receive quotes today.

For more information, read Weight Affects Life Insurance Rates

InsuranceAgents.com provides consumers with immediate access to life insurance quotes, articles, and comparisons.

Article Source: http://EzineArticles.com/?expert=Tom_Lustina

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Oct. 07 -2009 Update Whole Life Insurance By Insurance Experts

2009-10-07T05:45:00.000-07:00

The more you know about how your life insurance works, the easier it is for you to seek for the right insurance plan. The more research you have made on life insurance policies, the better for you to avoid any possible pitfalls when it comes to insurance purchase.

Here is a list of 10 key things on life insurance which everyone should be aware of,

1. Shopping around save money

It definitely pays to shop around because premiums vary widely across one Insurance company to another. Getting yourself equipped with the necessary insurance policy information will facilitate your searching for the best optimum Insurance plan.

2. Just get what is needed

Make sure you are not under insured because you are unlikely to get the needed benefits if you are under-insured. Also ensure that you do not over-spend on life insurance because buying more than what you need is a waste of money, just get what you believe is sufficient.

3. What happen in the event of delinquent payments?

You are normally given a grace period of 30 days to make payment on your premium. However if you have not paid within the grace period, your policy will lapse. In the case of permanent insurance policy, if you are late on your payment, your cash value amount will be deducted accordingly by your number of delinquent days.

4. What is the best age to get your Insurance?

The younger you are, the lower your life insurance premiums will be. The reason is because your risk of dying is lower when you are younger.

5. The healthier you are, the better the rates

Healthy people tend to get the best deals when it comes to life insurance.They will be able to get a better rates as compared to those with health problems, e.g, smoking, being overweight or with heart disease.

6. Is the result of my medical exam crucial?

The status of your medical exam results will determine what kind of Insurance rates you will be offered by the insurance company. Your height, weight, health, life-styles are all taken into consideration.

7. Will having more than one policy cancel the other one out?

Not at all. If you have a credit life insurance policy and a whole-life insurance policy, and you paid all the necessary premiums, both policies will pay out according to the initial terms of the policy. The credit life policy will pay off your credit card balance and the death benefits will be paid out on your whole life policy.

8. Can I buy a life insurance policy on someone else?

Yes, if you have insurable interest for that person, normally for a close relative or friend, you can buy insurance for them. However, the official stipulation here is that that person must know about it.

9. Review your coverage regularly

Changes in your life signals the need for a review of your overall financial plan. Always ensure that your coverage is intact with the changes you have gone through such as marriage, birth of a child, impending retirement, retrenchment, promotion have effect on the insurance coverage that you may need.

10. Compare the ratings granted on your finalized list of Insurance companies.

These ratings are provided by several rating agencies such as S&P and Moody's. Choose a company with higher rating which has more renowned reputation and consider for their better services and fast claim processing.

For more information about life insurance rates and life insurance companies, visit LifeInsuranceEssentials.com.

Article Source: http://EzineArticles.com/?expert=J.J._Yong

Term Life Or Whole Life - How Do You Determine Which Type of Life Insurance is Right For You?
By Jaden Jones

The most popular types of life insurance are these two : Term and Whole. The key difference between these two is that for Term insurance, the policy is for life coverage only. If the insurer died before the policy expired, the company will pay the beneficiary the face value of the policy. Term insurance has no cash value. On the other hand, for whole life insurance, the components of investments and insurance both exist within this policy, that's why their premium is much higher than the other insurance.

Here're some key differences between these two types of insurance:
a. Period of time :
- Terms life insurance is purchased for a period of time, and when that lengthen of time expires, the effectiveness of that insurance ends.
- Permanent life insurance is designed to cover a person for his whole life.

b.Types of benefits :
- For Terms insurance offer death benefits only. If you die before the policy is over, your beneficiary will get the money; if you live past the length of the policy, you get nothing at all.
- Whole life insurance offer death benefits and cash value (a type of saving).

c. The Premium value :
- For Terms, it is with lower premium because it only covers for the insurance part of it and only for certain terms of 10, 15, 20 years only.
- For Permanent, it is with a higher premium as they contain both the insurance and saving elements in the plan.

d. Suitable for different group of people :
-Terms Life insurance is suitable for those who are young and healthy as it is helping to cover for temporarily needs only.
- For Whole Life , it is very suitable for those who are more than 50 years old of age, near to retirement age, or who is the sole bread winner for his family.

For more information about life insurance information and term life insurance quote, visit LifeInsuranceEssentials.com.

Article Source: http://EzineArticles.com/?expert=Jaden_Jones

How to Shop For Whole Life Insurance
By Steven Hart

Life insurance comes in two basic types: permanent and term. Permanent insurance is when the policy holder has lifelong protection as long as they continue to pay their premiums. The policy's beneficiaries receive a payment when the person dies. Term life insurance means that a person is only covered for life insurance for a specific length of time. Usually this is ten, twenty, or thirty years. People select term life insurance if they have a cost that will eventually go away - such as education fees or a mortgage payment.

Permanent insurance is also called cash value insurance because the policy builds up a cash value over time. If the policy holder cancels the contract before their death, the amount available to them is the cash value. Cash value insurance comes in the form of whole life, where a savings account portion grows at a fixed rate, and variable life, where the policy holder can choose different investment options.

Whole life insurance plans are in general more complicated than term life which means the process of finding the right one is more involved; interest rates and other factors must be considered. The best way to start looking for a policy is to become familiar with all of the common terms and procedures. It is also important to understand the purchaser's budget, coverage needs, and any additional policy benefits that may be required.

The reason that whole life plans are more complicated than term plans is that with whole life insurance, the issuing company will have to make a payout at some point. Term life insurance, on the other hand, provides only a basic death benefit without savings or investment components. There is actually only a small chance that the issuing company will have to pay out on a term policy. Whole life insurance is an investment plan for the person's beneficiaries or even him or her self.

When comparing whole life policies, it is important to look for extra benefits that may be available. For example, an insurance company may allow loans to be taken out against the policy. Although the policyholder will have to pay interest to pay back any loan that they take out, the interest is usually lower than a traditional bank loan because the person is actually borrowing their own money.

An investor should also consider the options on a policy and investigate any discounts that may be available to them. For example, some insurers offer a premium return option where if a plan has a higher growth than expected, the company will return a portion of the premium to the policyholder. Also, some firms offer discounts for spouses and offer multi-policy deals if homeowner's insurance or car insurance are also taken out with the company.

The most important thing to remember when looking for whole life insurance is to do the full research and to shop around. The easiest way to do this is online. Multiple policies can be compared quickly in the privacy of one's home. Also the financial ratings of the insurance companies can be easily found online to ensure that the person is buying a policy from a company that is in good financial health.

For more information from Steven on how to select life insurance policies, including a description of all the various types, visit Best Life Insurance. For a list of solid brand-name life insurers see, Life Insurance Company Ratings.

Article Source: http://EzineArticles.com/?expert=Steven_Hart

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August 28 -2009 Update Whole Life Insurance By Insurance Experts

2009-08-28T04:31:00.000-07:00

Whole life insurance policies have standard features. However, some insurers have additional features that are very beneficial. It's a good idea to know what they are so that you can take advantage of those that are in your best interests. Here are features that every insurer may not include in a whole life insurance policy...

1) Where it is provided in the policy or with the prior authorization of the policy holder, an insurer can draw from the cash value to keep the policy in force if you miss a premium payment.

2) You can choose to stop paying premiums after a time by either reducing the level of coverage you get or, where the contract allows, by continuing the policy as an extended term life policy for a given period.

3) You can buy an annuity with the cash value.

4) You may use the policy as collateral to borrow from either the same insurer of a bank.

5) Some whole life policies earn dividends which can be taken in cash, used to buy more insurance or used to pay premiums. Such policies are called "par" or "participating" policies. The dividends are usually not taxable as they are seen as refunds of excess premiums.

I expect that should have seen a few features that will be beneficial to you. So make sure you buy from an insurer that includes those features in your whole life insurance policy.

You can pay far less for whole life insurance by getting and comparing many whole life insurance quotes from reputable insurance quotes sites.

Here are my favorite pages for life insurance quotes...

InsureMe Life Insurance Quotes

Life Insurance Quotes

Publishers can get unique versions of my articles by following any of the links above. Click on "To Use My Articles" when you get to my site.

Chimezirim Odimba writes on insurance.

Article Source: http://EzineArticles.com/?expert=Chimezirim_Chinecherem_Odimba

August 10 -2009 Update Whole Life Insurance By Insurance Experts

2009-08-09T05:25:00.000-07:00

The Scrooge and Marner Bank Vs Whole Life Insurance...
By Jeffrey Reeves

Consider this conversation with Mr. Silas Marner, the not-so-friendly banker at Scrooge & Marner Bank.
You speak:

"Good day Mr. Marner. Thanks for taking time to speak with me today. I wish to purchase an asset of real property. Mr. Marner, the property I want to purchase is valued at $1,000,000.00. Here are the terms I would like to have for this purchase...

• First, I want to purchase this property with no down payment other than the first monthly payment.
• I also want to purchase the property without any credit check. I would like your decision based solely on my willingness to commit to level monthly payments.
• I want your bank to guarantee that those payments will never increase.
• I want a guarantee from the bank that the property will never decrease in value.
• If your bank is successful investing my monthly payments, I want your bank to refund a portion of the earnings from those investments to me.
• I want any growth in the value of the property I am buying to be tax-free.
• If I decide later that I no longer wish to own this property, I want the bank to guarantee that the equity I have built up will be paid to me in cash or as a lifetime income that I cannot outlive and that the property will revert to the bank.
• If I decide that I don't wish to make payments for some period of time I want the bank to automatically make those payments for me as a loan against my equity and at a guaranteed rate of interest.
• If I want to borrow against my equity for any reason, I want the bank to make the loan without question or qualification.
• If I do borrow, I want the bank to only charge me a guaranteed rate that we agree upon before signing the purchase application - even if the loan is requested years into the future - and I want the bank to accept any payments I make, even if they are less than enough to repay the loan.
• If I die prematurely, before the property is fully paid for, I want the bank to pay my heirs the entire $1,000,000.00, less any loans I have taken, regardless of how many payments I have made - even if I die in the very first month after purchasing the property.
• I want to be able to make extra payments without incurring any penalty or expense and I want the bank to keep track of them for me.
• Finally, Mr. Marner, I want to pay the bank a few extra dollars each month so that if I get sick or hurt and can't work the bank will make my payments for me.
So, what do you think Mr. Marner; do we have a deal?"

Silas Marner speaks:
"NO!
No to everything. Such foolishness is wasting my time. My bank doesn't work that way."
Hmmm!

A conventional banker finds these terms ludicrous. However, if you were to apply those questions to a whole life insurance contract from a mutual company, the answers would all be 'Yes!".
It's true. You can purchase a $1,000,000.00 asset that is recognized as real property, which requires only that:

• you demonstrate a need
• you qualify medically
• guarantees a level monthly, quarterly, semi-annual, or annual premium payment
• lets you skip payments if you wish and automatically deducts the payments from your equity account
• guarantees a tax-free increase in equity each year
• commits to the payment of dividends when earnings exceed what was planned and expected
• allows you to take a loan against your equity at will, requiring no qualification and cheerfully delivering your check within a day or two
• guarantees the interest rate that you must pay when you borrow from your equity account
• allows you to repay loans against equity on your own terms (variable amounts based on your ability and resources; irregular times based on your needs not theirs)
• assures your heirs full value of the asset less any outstanding loans at your death
• promises to pay your premium if you are sick or hurt and can't work

Wouldn't a "bank" like that be valuable to you?

Dividend paying whole life insurance policies from mutual insurance companies have been delivering this kind of power, versatility, and flexibility to Americans for over 100 years. During the past thirty years or so, however, many in the financial services industry have ignored this incredible tool and even treated it with disdain.
Chasing returns became the mantra of the industry...and look where it's gotten us.

Jeffrey Reeves Speaker, Financial Guide, and Author of the life altering books -Money Now, Money Later, Money for Life, The 250th Anniversary Edition of The Way to Wealth by Benjamin Franklin with Commentary by Dr Agon Fly. Jeffrey Reeves also is the founding energy behind http://www.YouBeTheBank.com

Jeffrey has almost 40 years experience as an insurance and financial advisor to individuals, businesses, and professionals. He has owned and operated his own agency since 1976.

Jeffrey has also performed consulting assignments for Fortune 500 companies and managed practices that served business as diverse as coal mining operations and professional sports teams. His agency served over 100 small business clients: dentists, doctors, accountants, attorneys, manufacturers, real estate agents, distributors, engineers and many others.

In 2004, Jeffrey recognized that the principles, practices and tools that made so many of his former clients successful were not only misunderstood, they were ignored and even maligned by Wall Street's purveyors of the "Debt Paradigm".

He rededicated himself to the practice of helping individuals break the bonds of the "Debt Paradigm" and re-discover the treasures that have become obscured by the cacophony of claims by the faux financial fops who foist fallacious foolery on us all. (He loves alliteration).

Jeffrey is supported by his wife Sandra and three ill-behaved dogs that he nicknamed Noisy, Nosey and Nasty.

http://www.youBEthebank.com

Article Source: http://EzineArticles.com/?expert=Jeffrey_Reeves

No Physical Exam Whole Life Insurance - Is It Really A Good Deal?
By Joe Stewart

Although there are insurance companies out there that will issue a no exam whole life insurance policy, there are exclusions written into most of these policies that you, the consumer, need to be aware of.

I'm certain that you've seen the television commercials that guarantee whole life insurance coverage for individuals from fifty to eighty years old, guaranteed, no physical exam whole life insurance, also known as no test life insurance policies. It seems as if they show them ten times during an evening of watching tv.

Anyway, here are some of the things that you should be aware of before you buy one of these policies.

Many of these policies are known as "Modified Whole Life Insurance". They are modified so that you must meet a specific set of terms in order to qualify for a full payment being issued at the time of your death. Some of the modifications to these policies are as follows:

#1. Your loved ones will be paid a reduced benefit, or nothing at all, in the event that you pass away within the first two years of the policy being issued. Some of these "modified" whole life insurance policies don't require an exam because they either pay a reduced benefit or nothing at all if you happen to die of natural causes within a specified time frame.

#2. Most of these policies will cover you in full for accidental death from the day that the policy is issued. This means that although you won't be covered in the event of a natural death such as heart attack, stroke, ect. you would be 100% covered in the event of an accident such as a car wreck, fall, ect. I'm certain that, as with most insurance policies, that there would be exclusions in your policy for recreational activities such as sky diving, scuba diving, race car driving, ect.

#3. This type of insurance is normally quite expensive. No physical exam whole life insurance coverage doesn't mean that it's going to be cheap, especially for most men.

Most insurance like this is sold in "blocks" of smaller amounts. Example, you may be able to purchase "blocks" of $3,000.00 each. The average block will cost in the range of $20.00-$30.00 per month depending on your gender, male or female. Men will pay more.

Now this really isn't that unreasonable, however the average funeral expenses will cost between $6,000-$10,000.00 these days. This means that realistically you'd need to purchase at least three blocks ($9,000.00) in order to make certain that you were covered and didn't leave your family with unexpected expenses. This can become extremely expensive if there are two people to be covered such as a husband and spouse. This is not affordable for many people that are retired or are approaching retirement.

The bottom line is this. Always get a second opinion on life insurance coverage before you buy, especially if it sounds too good to be true such as a no physical exam whole life insurance policy.

Joe Stewart is a Webmaster and former Life And Health Insurance Agent. He's made understanding life insurance simple for consumers. You can read detailed explanations about life insurance at his website TheLifeInsuranceGuys.com or by clicking on Whole Life Insurance Quote Online

Article Source: http://EzineArticles.com/?expert=Joe_Stewart

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All About Whole life Insurance Information By Insurance Experts

2009-08-01T13:35:00.000-07:00

Whole Life Insurance Comparisons - The Right Way To Go
By Chimezirim Chinecherem Odimba

Using the right strategy, you'll pay far less by doing whole life insurance comparisons. The more extensive and thorough the process is, the better the results you'll get. But like everything else you could hurt yourself if you don't take certain precautions.

1) Make sure you gather as much information as you can. There could be slight differences from one insurer to another. Make sure you understand details of an insurer's whole life insurance policy before signing. Are the death benefit, cash value and others up to what you want? Make sure your questions are answered before you pay.

2) You must be sure of what you want and why you want it. This will help you make better choices. This is especially true if you have to choose between a cheaper offer that excludes things that are important to you and and a more expensive one that's just right for you. Sometimes you can get what you want in the lowest quote returned; sometimes you won't. Also make sure you check an insurer's rating before settling down with it.

3) For the best results, get your quotes from up to five (but not less than three) reputable sites that offer these quotes. Visiting just one site for your whole life insurance quotes reduces your chances of making huge savings as you'll miss offers from a number of companies.

4) Procrastination can be very dangerous. Tomorrow may be too late (or make you lose more as you pay higher premiums the older you get). Therefore, take out some time now to do your whole life insurance comparisons. The younger you are the cheaper your policy will be.

Remember and don't forget that your comparisons must give you the best price/value. People who don't care about what happens when they're gone don't bother about whole life insurance. You do. Therefore, give it the attention it requires now.

Here are my favorite pages for life insurance quotes...

InsureMe Life Insurance Quotes

Life Insurance Quotes

Publishers can get unique versions of my articles by following any of the links above. Click on "To Use My Articles" when you get to my site.

Chimezirim Odimba writes on insurance.

Article Source: http://EzineArticles.com/?expert=Chimezirim_Chinecherem_Odimba

Whole Life Insurance Comparisons - Going About Them The Right Way
By Chimezirim Chinecherem Odimba

Whole life insurance comparisons will help you lower your rates by a huge margin if you know how to go about it well. There are a few things to bear in mind when doing your comparisons to ensure you do not hurt yourself on the long run.

1. Nothing can be more painful than realizing what the exclusions are when you want to take advantage of your investment. Know what's covered and what's not. Know the features and understand their details.

2. What is the benefit amount for each? What cash value will you get for a given plan? It's a smart move to ask questions about any concerns you may have before paying for your whole life insurance policy.

3. Please, settle the issue of what you really want so that you don't get swayed because you saw a low rate for a whole life insurance policy that isn't right for you. The lowest price may or may not represent the best price/value.

4. An insurer's rating is very important. Make sure you check or, use a reputable quotes site and you can rest assured that they'll return quotes from reputable companies.

5. Obtain and compare whole life insurance quotes from as many as five quotes sites (Make it three at the minimum. If you visit only one, you'll be missing out quotes from companies not covered by it.

6. You cannot afford to postpone issues that have to do with your life and those of your loved ones till later. Waiting till later could be too late (And, you know the consequences). Remember, the sooner you become insured, the better for you.

7. Don't lose sight of your main reason of looking for a whole life insurance policy when comparing those quotes. Among your reasons for getting a policy is to give some form of protection to your loved once when you're gone.

Then make sure you do thorough comparison.

Here are my favorite pages for life insurance quotes...

InsureMe Life Insurance Quotes

Life Insurance Quotes

Publishers can get unique versions of my articles by following any of the links above. Click on "To Use My Articles" when you get to my site.

Chimezirim Odimba writes on insurance.

Article Source: http://EzineArticles.com/?expert=Chimezirim_Chinecherem_Odimba

Whole Life Insurance Online - Five Things That Will Help You Get Lower Rates
By Chimezirim Chinecherem Odimba

Good things often come at a price. The security and peace of mind that a life insurance policy gives has costs. Thankfully, there are ways to lower your rates. Knowledge plays a very important role here.Here are things you can do to get better deals at a lower price.

1. A person who get his/her whole life insurance policy at 50 would pay much less than another you gets it at 60 all things being equal. Therefore get it while you're young. These policies cost more if you apply at an older age. This is simply because your risk to the insurer increases.

2. There are a few things you need to know about the insurer you finally decide to use for your life policy. You'll do well to look at their track record and how long they've been in business. You don't want to get hooked with a company that will leave you stranded midway. Remember, this is protection in case you pass on. The Better Business Bureau (BBB) online can help you in such research.

3. Smokers are more likely to die young. In whole life insurance it means one thing: You're a very high risk and so should pay much more.

4. Those who are involved in dangerous sports can't get low cost life insurance. If the most affordable life insurance rate is your target then you'd have to quit such sports.

5. The most vital key to massive savings in whole life insurance is comparison shopping -- That's if you do it well. The range of quotes returned in a query could be as wide as $2,000 for a given profile.

Now, that's exciting. You have to look beyond just the lowest price to the best price to value ratio. The lowest priced may not be the best price/value for you as a person. Different companies may have adjustments in their coverage for similar policies.

It's a good idea to ask the agent what's included and what's excluded (You certainly don't want it to be a feature of much value to you). Life insurance involved your life so do ensure you are satisfied with the details of an insurer's policy coverage before paying. Remember, they are free and no obligation quotes. That's how to give your loved ones the best protection at the lowest price. You, too, can do it.

Here are my favorite pages for life insurance quotes...

InsureMe Life Insurance Quotes

Life Insurance Quotes

Publishers can get unique versions of my articles by following any of the links above. Click on "To Use My Articles" when you get to my site.

Chimezirim Odimba writes on insurance.

Article Source: http://EzineArticles.com/?expert=Chimezirim_Chinecherem_Odimba

Whole Life Insurance Quote - Getting A Specialized Insurer
By Chimezirim Chinecherem Odimba

Whole Life Insurance Quote: Different insurers have different profiles that they are either more specialized in or have a bias for. A certain diabetic patient discovered that many life insurance carriers do not have a deep understanding of the difference in diabetics.

However, a particular insurance company that specializes in providing life insurance to diabetic prospects gave him rates that were about half what the others demanded. Since this insurer who later took him own isn't incurring a loss by so doing, there must be a reason why they could give such low rates...

The difference was that this insurance company has specialists who understood that he had a milder form of diabetics. Such specialists were able to truly evaluate this prospect's problem. They were able to appreciate that he had a milder diabetes case which was not as risky. This was why it was easy for them to give him a low rate.

For those who know, there's a big difference between diabetic patients who take their medication regularly and those who don't. A diabetic's case would certainly be helped with such an insurer who really knows the difference. Your rates could be less by up to 50% if you have your diabetes under control and insure with such a company.

Getting an insurer who has specialists in your profile does NOT apply only to health issues. A little research will show you companies who have either a bias in favor of your profile or a better understanding of your problems. You can almost say with assurance that this will give you the best price/value.

Whole Life Insurance Quote: Quotes sites give you a very convenient way of locating insurers like that. All you have to do is get and compare quotes from up to five or more quotes sites. From the quotes you get you can easily pick those who have either a bias in your favor or a better understanding of your profile.

Here are my favorite sites for life insurance quotes...

Free Affordable Life Insurance Quotes

Hometown Life Insurance Quotes

Chimezirim Odimba writes on life insurance.

Article Source: http://EzineArticles.com/?expert=Chimezirim_Chinecherem_Odimba

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All About Whole life Insurance Information By Insurance Experts

2009-08-01T13:31:00.000-07:00

Life Insurance For a Single Person
By Christy Love

If you are a single person, it's a good idea to have at least enough insurance to cover your burial. The average cost of a funeral in America is between $7,000.00 and $14,000.00, depending on your final wishes. If you only desire to be cremated, you need at least $3,000.00 of coverage.

Take into account also, what debt you may leave behind. If this debt will become the responsibility of loved ones, you should have enough coverage to protect your loved ones from a financial burden, following your death.

Term Life...

Many single people have term insurance to cover them for just the reason, stated above. Term life is very inexpensive. It does not build any cash value and it not permanent, however.

Whole Life...

If you're a young person looking for permanent insurance that will have level premiums, level death benefits and will build cash value, whole life insurance is what would be suggested. The monthly premium never increases, the death benefit never decreases and the cash value is guaranteed for as long as you live, or until age 100.

Regardless of the type of insurance policy that you select, protecting your loved ones, family and friends from a financial burden when you die, is a responsible and caring act.

To find an insurance company that offers low insurance premiums for single persons, you can conveniently compare policies and quotes, online. You do not have to actually apply for insurance online to have access to quotes and policy details. It's the responsible thing to do.

http://www.LifeInsurance4All.com/ is a free tool that you can use to compare life insurance policies and quotes, including for people that are single.

Christy Love is a Platinum Level Expert Author at EzineArticles.com.

Article Source: http://EzineArticles.com/?expert=Christy_Love

Benefits and Advantages of Whole Life Insurance
By Jennie Dalglish

Whole life insurance (also known as Permanent life insurance) offers a combined death benefit and a cash value plan that runs the course of the insureds lifetime. Once the insurance is in place it cannot be canceled at a later date as long as the annual premiums are paid in a timely manner. Premiums are fixed for the life of the policy and one of the advantages to taking out a whole life insurance plan. And the younger the insured is when the insurance is purchased, the more affordable the annual premium will be.

Another aspect to these whole life policies is the built-in savings plan. A percentage of premiums paid for this life insurance is entered in a cash balance or savings program. That account is able to earn a fixed interest rate. In time as the balance increase it can be used in several different ways, such as to use the funds to cover the cost of the annual premium, to purchase extra insurance, or to borrow against the balance. It's also possible for the policy holder to cash-in or surrender the insurance plan.

Variable universal life and universal life are both variants of the standard whole life insurance plans. The basic structure of the insurance is essentially the same, with the exception that additional flexibility and enhanced investment choices are available. Such enhancements include the ability to invest a portion of the cash balance in a variable universal life plan into mutual funds and stocks.

The whole life insurance plans are the more traditional forms of life insurance. It's often recommended for someone that's able to meet the higher premium, prefers a premium that's fixed, or wishes to have peace of mind in knowing that lifetime coverage is in place. It can also be a benefit to those that aren't disciplined savers, as it helps to build a savings plan, and while still giving that safety net for the entire family.

Talking to a professional can help to understand the advantages of whole life insurance policies and to be able to make the right choice to suit the individual circumstances.

If you're interested in getting a more detailed look at Life Insurance Policies, including a variety of insurance tips and ideas, take a look at http://www.InsuredBox.com

Article Source: http://EzineArticles.com/?expert=Jennie_Dalglish

Free Life Insurance Quotes - Understanding What You Need For Protection!
By Henry Thomas Jr.

Are you ready to get some protection for you and your family in case you are to leave this world unexpectedly? Everybody should have some form of insurance to protect those that they are going to be leaving behind if something is to happen to them. There are ways to use free life insurance quotes online to help you figure out what you need in order to make sure you leave your family what you want them to have. Here are some tips to help you get the insurance you want.

First, you have to understand that most of the online quotes are for what is called term insurance. This is going to be insurance that last for 10 to 30 years and it will not cost you much. You can get anywhere from $10,000 to $10 million in coverage to help your family after you pass. Term insurance does not have a cash value, however, and you need to make sure it will pay out in the way you prefer when you are gone. This is for your families protection and so that they can give you a proper funeral.

Second, when you get free life insurance quotes online you have to understand that they are not always good quotes. You need a non bias website that will give you the quotes of multiple companies and policies for free. This site usually will give you all the benefits that come with each policy along with the monthly cost and the coverage you will have. This is the type of free life insurance quotes you need to be getting in order to make a good decision.

Last, since this is the insurance that will protect your loved ones when you are gone you might want to consider looking into whole insurance instead of term insurance. This is they type of insurance that will protect you for life and has a cash value that you can cash out if necessary to help with bills or any other crisis that is going on in your life. This is sometimes a better choice and you need to do all your research before you choose a policy and a company to go with.

Click Here Now to get your Free Quote from multiple companies and policies for the Best Life Insurance!

Article Source: http://EzineArticles.com/?expert=Henry_Thomas_Jr.

Whole Life Insurance Comparisons - You'll Save Much If Done Right
By Chimezirim Chinecherem Odimba

Whole life insurance comparisons will help you lower your rates by a huge margin if you know how to go about it well. But like everything else you could hurt yourself if you don't take certain precautions.

What you don't know can hurt you a lot in life insurance. This means that you have to make out time to understand the whole life insurance (especially the policy you want to pay for). Know what's covered and what's not. Know the features and understand their details.

Are the death benefit, cash value and others up to what you want? Do not pay for an insurance policy without first making sure all your questions are answered.

Please, settle the issue of what you really want so that you don't get swayed because you saw a low rate for a whole life insurance policy that isn't right for you. Sometimes you can get what you want in the lowest quote return, sometimes you won't. You'll, in addition make sure pick an insurer who has a good rating (This isn't an issue if you use reputable insurance quotes sites).

Obtain quotes from as many as five insurance quotes sites (Make it three at the minimum. Visiting just one site for your whole life insurance quotes reduces your chances of making huge savings as you'll miss offers from a number of insurance companies.

There are things that should wait till tomorrow. Your life insurance is certainly NOT one of them. Waiting till later could be too late (And, you know the consequences). The younger you are the cheaper your whole life insurance policy will be.

Please, make sure you look out for what's best for you and not just what's cheapest. This is the right mindset while comparing whole life insurance quotes. Among your reasons for getting a whole life insurance policy is to give some form of protection to your loved ones when you're gone.

Therefore, give it the attention it requires now.

Here are my favorite pages for life insurance quotes...

InsureMe Life Insurance Quotes

Life Insurance Quotes

Publishers can get unique versions of my articles by following any of the links above. Click on "To Use My Articles" when you get to my site.

Chimezirim Odimba writes on insurance.

Article Source: http://EzineArticles.com/?expert=Chimezirim_Chinecherem_Odimba

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All About Whole life Insurance Information By Insurance Experts

2009-08-01T13:27:00.000-07:00

Compare Whole Life Vs Term Life Insurance Quotes
By Christy Love

If you are interested in comparing life insurance policy quotes online, you are looking to make an educated decision that will affect your family's future. Smart choice, but beware.

Not everything is as it seems.

There are several sites that allow you to compare life insurance quotes that ONLY show price comparisons. In order for you to make a good decision, you've got to have the policy details that each company offers, as well.

Comparing insurance quotes by price alone, is a grave mistake. One company may offer you a $500,000.00 term life policy for $28.00 a month, while another charges a premium of $58.00 a month for the same coverage.

The difference between the two policies is what you need to focus on. You may find that the $58.00 premium for half a million is a better deal, based on the benefits that the policy offers.

Term life vs whole insurance is a common question in the minds of people looking for coverage. It's definitely something to consider. Whole life does cost more than term, but there are good benefits to whole life.

Whole life insurance is permanent coverage that lasts your "whole life". It builds cash value and the premium charges, death benefits and other monetary elements of the policy are 100% guaranteed not to change.

Term insurance is the most bang for your buck. It's much cheaper than whole life, therefore you can get a "bigger" policy for less money. However, it's only temporary and is sold based on the length of time you'll be covered. Frequently, this is in 5, 10, 20, or 30 year terms (period of time policy will be in force before renewing).

When a term policy does renew, you can expect your premiums to increase, dramatically.

http://www.LifeInsurance4All.com/ is a free tool that you can use to compare life insurance rates and policy differences side by side, without having to apply for insurance. Christy Love is a retired life insurance agent with over 30 years of experience in helping people protect what matters most... their family.

Article Source: http://EzineArticles.com/?expert=Christy_Love

Whole Life Insurance and Its Difference
By Bharat Prajapati

Casualty can occur at anytime to any person. The sudden change in life often leaves people in a critical state of imbalance. People do not know in what state the things are and not know how to cope up with the unexpected things that come in their way, sometimes.

It is often annoying that things like these happen. A sudden death in family, not only taxing emotionally, but also hurts the family financially. A person could protect his family from such kind of inconvenience.

A person can benefit whole life to protect his family from all these financial problems that can be balanced if he unexpectedly passes away.

Whole life is an insurance policy in which the rest of the life person is insured. The policy therefore secures the people for the financial problems that may be brought about by his passing. There are many ways to pay the premium for a whole life. Many a time, whole life insurance premiums may be paid annually.

There are six different types whole life insurance policies:

1. Non-participating
2. Participating
3. Indeterminate
4. Economic
5. Limited pay
6. Premium

Non-Participating: All terms related to this policy are truly certified at the time of the issuance of the policy. If the terms changes when the policy is in force, the agreed upon term at the time of the issuance of the policy would still be the same.

Indeterminate: There could be difference between the insurance premiums from one year to the other.

Limited Pay: Restricts the number of period of what the premiums need to be paid.

However, insurance premiums must be paid annually for the duration of the policy or else one would lose the policy altogether with the benefits of security that it brings.

In limited pay, the insured have to pay only for a short number of years agreed upon at the issuance of the policy.

Whole life cover is a brilliant way of safeguarding one's family for the duration of your lifetime and after.

Whole Life Insurance and Policy Term

Article Source: http://EzineArticles.com/?expert=Bharat_Prajapati

Whole Life Insurance Cover For Your Family
By Habibulla Antule

Life insurance is a one of the most important thing that a person can do for his entire family. Because, it helps to provide a essential financial security to families for generations. In short, it creates a wealth foundation that person build for his family's financial future.

Whole life insurance is a great permanent insurance plan that remains in the force until life insured's death. The premium rates are very much lower for the people with less age. There is a enough time to accumulate the cash values and ultimately increases the life amount cover.

Choosing whole life insurance cover can be a tricky process in some times. There should be estimation of the require amount that will be sufficient amount for your family that will be sufficient on behalf of your presence. It's very much true, a person's worth can not be measured by monetary value is what needs to be considered when choosing a whole life insurance cover.

There is no matter whether you are male or female, you can not declined that you have great value for your family members. Just imagine, in case of unfortunate demise of yours in middle of the life, how they would have a hard time without your presence. That time several questions will struck in mind, burden of utility bills, medical expenses, educational expenses of your children's and there can be so more. These are facts that can not be ignored. So making an upfront financial contribution to the your family is more than just a paycheck.

In case, family is young and growing, the financial needs continue and grow with the age of dependents. On this basis, it is enough to assume that the importance of finance in your family's life.

Insurance policy is one of the way that makes such a things run very smooth without your presence. Your family will survive in the world with dignity and pride, because you have done something good for their life.

Habib Antule is a financial advisor and consultant and have provided his expertise to many financial institutions for loans and insurance. One of which is a bit online financial player in the market - http://Apnapaisa.com

Article Source: http://EzineArticles.com/?expert=Habibulla_Antule

Life Insurance Application Denied
By Patricia C Jordan

If you've had an application for life insurance denied, your first reaction may be disbelief or anger or even a feeling hopelessness if you've been denied several times. If you've been denied, then the first thing you need to do is find out the exact reason or reasons why. Speak with your agent or call the life insurance carrier directly. They will tell you the reason for denial. Once you know why you've been denied, you can come up with a secondary plan to get life insurance coverage for yourself.

What most people who are shopping for life insurance don't realize is that you should have a strategy when applying for life insurance. The majority of people are not in perfect health and most people don't have the "perfect" height and weight. That means that you will need to be specific about which life insurance carriers you apply with because all carriers have different underwriting criteria. It's not just about getting a quote and applying with the company who has the lowest rates.

For example, are you a smoker? If so, then there are carriers who have better rates for smokers than others. Are you diabetic? There are some carriers who will automatically deny you if you are diabetic, even if you have a great A1C reading. Other carriers will give you a standard rating if you have a good A1C level. Have you had cancer before? Some carriers will deny you no matter what, while other carriers will insure you if it has been at least 12 months since your last cancer treatment. Another good example of this is height and weight. Every carrier has their own acceptable height and weight table. If you are 5'10" and 225 pounds, carrier A might consider you overweight and give you a less than favorable rating, while carrier B will consider that normal and give you a standard rating. As you can see, the underwriting standards can vary greatly from carrier to carrier.

That's why it is so important to deal with an experienced agent who works with multiple companies. I would say they should have access to at least 30 carriers, though the more the better. Be upfront about all of your health issues, family health history, your smoking history, your height and weight, and occupational hazards and hobbies. Don't try to hide anything from the agent because it will only hinder them from making the best recommendation for which life insurance carrier is best for you. An experienced agent should be able to choose a carrier who will get you approved the first time at the most favorable rates for your situation.

If you have some serious health issues, then there are still options available to you, though it will be more expensive.

For a free life insurance quote, or more information about your life insurance options, please visit QuotesForTermLife.com.

Article Source: http://EzineArticles.com/?expert=Patricia_C_Jordan

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All About Whole life Insurance Information By Insurance Experts

2009-08-01T13:01:00.000-07:00

Recommended Program
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Understanding Basics of Cash Value Whole Life Insurance
By Denny Kuty

People, who are financially not so strong, usually opt for Term Life Insurance plans because they are inexpensive plans offering the required Insurance with a minimum effect on the finances of an individual. Term Life coverage is very beneficial for individuals with constant earnings and a family, because it provides a fixed sum of Insurance cover for a certain span of time.

But, for someone who wants to undertake huge investment along with an Insurance cover, the cash value whole Life Insurance is a superior option. The other names used for this kind of policy are Universal or Permanent Life coverage plans. This type of policy costs higher than Term Life Insurance however it offers the advantage of generating cash value against which one can borrow. It is a better option for those planning for their retirement period.

In Cash Value Whole Life Insurance, a potion of the premium is allocated to grant Death benefits and the rest is used for generating interest. Thus this plan provides both security and a saving plan to an individual. This type of Insurance costs much higher than the normal Insurance policies providing security only, and the earnings through savings may be comparatively lesser than other savings option.

For a long time, Finance experts recommended new customers to consider rather than buying this kind of policy because it was an awful option, usually sold by trained sales experts , frequently covering up it's disadvantages.

But now things are different, as many Insurance providers are providing Universal life and Whole life Insurance plans made to generate viable high interests against the cash value portion of Insurance plan. As centralized taxation is not applicable on the income generated by such Insurance plans, these kinds of policies are significant tools for savings. Furthermore, if one does not withdraw till death, then the proceeds are wholly exempted from tax. If the policy holder requires money, then he should withdraw the required amount in place of cashing it, to get rid of paying tax.

Though it is true that a number of benefits are provided, launched and continued by the policies aiming at satisfying the consumer, finance specialists recommend purchasers not to forget the basic motive of purchasing cash value life coverage that is simply an Investment. Term Life coverage plans of ten or twenty years term are recommended for the individuals who are looking for security only.

Denny is a Top Insurance Traffic Producer in the US. He drives traffic to top insurance carriers across the country. If you need any type of insurance or would like a free quote then get your Free Online Insurance Quote Today and check out our national insurance leaders Get Yours Now.

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Whole Life Insurance Companies
By Peter Emerson

Life insurance is a big industry with financial assets of more than $4,000 billion in 2004. The major revenue model is life insurance, although it is slowly being overtaken by annuities, i.e. contracts that guarantee a fixed or variable payment over time. Still, the sale of term and whole life policies remain a significant portion of the business.

Life insurance companies offer a wide range of products, including term and whole life policies, health, accident and hospital plans. Life-related sales accounted for 24% of the portfolio of insurance companies in 2004. The major customers are individuals and worksite employees. According to the NAIC annual statement database, the premium by way of sales of ordinary and industrial life alone is $108 billion, which is 20% of the premium collection in 2004.

It is estimated that there are 1,000 companies selling insurance products in the U.S. They belong to a group of 300 companies. The life insurance industry is characterized by large companies that sell millions of policies each year and small companies that sell thousands of policies. Some of the big names in this industry are MetLife, Prudential Financial and New York Life Insurance.

All of these companies are rated by rating agencies like S&P and Moody’s. Further, these companies are regulated by each state. Some companies don’t have a license to operate in certain states. This limitation should be kept in mind before selecting an insurance company, as in case of complaints, it would be easy to get the assistance of the state. These companies follow a code of ethics and insurance standards, and most are members of Insurance Marketplace Standards Association, a non-profit organization for ethical conduct in insurance marketing.

The insurance companies sell their products through agents and banks. Some also have an Internet presence.

Before selecting a company, it would be wise to do some homework by considering the size, rating, nature and number of complaints against the company. The right company is the one that meets an individual’s needs by tailoring the features and that offers advice through agents.

Whole Life Insurance provides detailed information on Whole Life Insurance, Whole Life Insurance Quotes, Whole Life Insurance Policies, Term Vs Whole Life Insurance and more. Whole Life Insurance is affiliated with Instant Whole Life Insurance Quotes.

Article Source: http://EzineArticles.com/?expert=Peter_Emerson

Inexpensive Whole Life Insurance
By Peter Emerson

We live in an age where knowledge is power. We are bombarded with information through various media. Although we are overloaded with information, it certainly has made our decision-making processes easier. The Internet is one such powerful medium that offers information and advice at a fraction of cost.

Whole life insurance is costlier than term insurance but provides more benefits. One might ask if there is a way to find whole life insurance policies that are inexpensive. There are Internet insurance services that offer inexpensive quotes. Even a close investigation among friends and relatives might reveal insurance products that are inexpensive. But as the saying goes, “there is no free lunch”.

When searching for inexpensive quotes, Internet services bring forward a template of questions to be answered such as age, history of diseases and smoking and drinking habits. In essence, the questions are designed to find out how healthy an individual is. Often, the younger the individual one, the better the chances of good health; additionally, the absence of smoking and drinking habits reveals that the chances of getting fatal diseases are less. The quote may be less expensive only if the answers indicate good health and chances of long living.

Insurance providers exist to make a profit. The way to increase their bottom-line profit is to increase the revenue from premiums and to decrease the chances of giving death benefits. This can be done by obtaining young and healthy policyholders. Hence, the clue to obtaining inexpensive insurance policies is to purchase a policy when one is young and to stop smoking. The policy for a non-smoker may be 10-20% less expensive than that for a smoker. It is difficult to get an inexpensive policy when one falls ill. So it is beneficial to get a policy when one is still healthy. It is advised to get quotes from different companies for the same policy and to ask free opinions from friends and relatives before buying a policy.

All of this information essentially means that there is no inexpensive insurance policy. It all depends on the individual and the needs.

Article Source: http://EzineArticles.com/?expert=Peter_Emerson

Term Vs Whole Life Insurance For Children
By Christy Love

Term life insurance is temporary protection. For children, this is typically only purchased to provide a death benefit to the parents or gaurdian to cover the childs burial expenses should an unlikely (and certainly unwanted) death occur.

Term life does not build any cash value and has no future benefit to the child later in life. The premium payments will be increased when the policy renews. Term offers only a death benefit and nothing more. There is no investment or cash value that builds in a term policy.

Whole life insurance however, is commonly purchased for children to provide both burial expenses as well as, an investment opportunity for the child that will benefit them later on in life. Purchasing a Whole life policy for a child while they are young is very inexpensive in comparison to them buying it later on in life. Cash value begins building the end of the third year that the policy is in force.

If you make an educated decision, you can invest in your child's future by opting for a whole life policy. The accumulated cash value at age 65 is generally enough to provide a reasonable retirement fund if the face value of the policy is great enough.

Compare quotes and policy details from several companies before making a final decision. Different insurance companies charge different premiums for the same policy face value. Get as much whole life coverage for your children as you can afford. It will benefit them and their future family long after you're gone.

http://www.lifeinsurance4all.com is a free tool that you can use to instantly compare life insurance quotes for children and families from the nation's top insurers.

Christy Love is a retired life insurance agent with over 30 years of experience in helping people protect what matters most... their families. As an Ezinearticles.com expert author, Christy enjoys sharing her knowledge of life insurance with the online community.

Article Source: http://EzineArticles.com/?expert=Christy_Love

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All About Whole life Insurance Information By Insurance Experts

2009-08-01T12:55:00.000-07:00

Life Insurance For Elderly
By Christy Love

Life insurance is available for elderly persons up to age 85.

Elderly persons should not purchase term life insurance. Whole life in an amount suitable to pay for burial and funeral expenses is very affordable. A $10,000.00 policy can be purchased for under $100.00 per month and with a first day, full benefit. What this means is, if you pass away tomorrow after purchasing a senior life insurance policy, the full $10,000.00 will be paid to your beneficiary.

If you have significant health problems, such as a history of heart disease or kidney problems, you may not be eligible for a first day, full benefit policy. In this case, you will be offered a graded or modified death benefit policy. These types of special insurance policies do not pay the full death benefit for 2 to 3 years after the policy has been purchased. During the 2 or 3 year period, depending on the company your purchase your policy from, only a portion of the face value of the policy will be paid. In some cases, all premiums paid into the policy plus interest will be paid to the beneficiary.

Whole life coverage for seniors is best. The monthly premium is guaranteed to never increase, regardless of health or age. The face value is guaranteed to never decrease. The cash values are also guaranteed.

If you are elderly, you can compare life insurance quotes online with special websites that allow you to see the prices that different insurance companies charge for final expense insurance . These types of websites are available for your convenience.

Recommended Website to Compare Life Insurance Quotes for Seniors: http://www.LifeInsurance4All.com/

Christy Love is a caring life insurance agent with over 30 years of experience. As a Platinum Level Expert Author at EzineArticles.com, Christy enjoys writing articles to help people with useful information.

Article Source: http://EzineArticles.com/?expert=Christy_Love

Importance of the Whole Life Insurance
By Frank Rodriguez

Most of the people around the world feel confusion and ambiguity when they think about whole life insurance. If you are worried this issue also, we have all the solutions of your confusion. Our highly experienced team members are here to help you in this regard. They provide you with the most useful information regarding your whole life insurance policies.

The importance of selecting the best available insurance company cannot disregard. You must know the basic factors necessary for the selection of best available insurance company in your locality. You must also know the basic purpose and advantages of life insurance. In fact, majority of the people, prefer life insurance just for leaving something special and costly to their family members and beloved ones after their death.

If up to now you have not made any firm decision for joining any insurance company, this is a golden chance for you and others like you to take keen interest in it. It is usually recommended to gather complete information about several insurance companies, so that you could get more profit for you as well as for the members of your family. This is necessary to find out the best contract with the best life insurance company. You can find out the best insurance policies using Internet by seeking out the best insurance sites. You need to select insurance companies that best meet all your requirements. Different companies may have different policies.

Do not simply rely on internet for finding the best whole life insurance policy. Try to make visit of several life insurance organizations close to your locality. Try to compare policies of various organizations and then select the life insurance company having the best policies and plans. Some times it is beneficial to arrange a meeting with the customer services representative of insurance companies, so that you can have all the possible answers to the questions in your mind. Try clearly to tell them that you want whole life policy that best fulfills all your family requirements, so that they offer you the best available insurance plans for your members of family.

Every entire insurance policies devote a definite amount of regular monthly income for your family members and your beloved ones. Some plans are very economical to get started. Select the insurance policy according to your financial status and your requirements. A good entire insurance policy will definitely help your family members when you will no longer live in this world.

Two main principles of life policies are variable global life and global life. The fundamental configurations of all insurance companies are usually similar. However, there might be differences in benefits you earn through their companies, and various options of savings.

In practice, the entire living insurance policies are the more conventional type of life policy. Those who can achieve superior premiums should try to go for constant premium. It is also very useful for non regular savers, because it helps them to make a good saving policy.

In conclusion, it is wise to consult an experienced insurance expert before the selection of best available whole life insurance policy. Life insurance leads may lead you to a reputable agent. In this way he/she can help you in choosing the most excellent insurance policy.

When it comes to whole life insurance there can be a lot of confusion on the clients part. Through life insurance leads you can stress the suitability factors.

Article Source: http://EzineArticles.com/?expert=Frank_Rodriguez

Life Settlements Explained - Sell Your Permanent Life Insurance Policy For Cash
By D Kitchell

Given recent and ongoing market corrections, various Ponzi schemes and a general unwinding of the "Wealth Effect," many people are looking to generate cash from current assets. Also, given that the real estate and credit markets are virtually frozen, especially at the top end, Aspen investors may conclude that they have few options for generating cash outside of traditional means.

However, one asset that many may overlook is a Whole Life Insurance policy. Historically, individuals had only three or four options if they no longer wished to pay premiums or wanted cash from a policy they held. These included:

1. Surrender the policy for paid up--Call the insurance company and ask them what amount of death benefit you could get from the premiums you have already paid in.

2. Surrender the policy for cash value--Contact the insurance company and ask them to give you all of the cash value in the policy and discontinue the death benefit. This could be a poor choice with Guaranteed Universal Life contracts used for Estate Planning purposes, because they favor death benefit over cash value. Often these policies have a very small cash value as a percentage of death benefit.

3. Allow the policy to lapse--Discontinue paying premiums without contacting the insurance company. -- obviously a disastrous choice unless you want to contribute to contribute to the company's coffers instead of your own.

4. It may be possible to talk to a good life insurance broker and use the cash value in your policy to get a new contract that may have substantially more death benefit than your current Whole Life insurance policy, or use the cash value to lower the premium with a new contract. The fundamental reason this is possible is that people are living longer. If you have a policy that was issued before 2001 when the government mortality tables were revised, you can have your contracts reviewed and get much more coverage for the same or less premium that the previous contract offered. For example, take an individual who had $1MM in coverage with several policies taken out in the early nineties. For the same premium plus the cash value in his current contract, (subject to health underwriting) he could get about $2MM in coverage now. Or he could discontinue paying premiums and still get about the same amount of coverage as he had formerly.

Now however, a new, even more viable option is available - the "Life Settlement." This has happened because a secondary market has developed for Whole Life insurance. Hedge funds, institutional investors, and others who wish to make a good rate of return may purchase your policy for substantially more than its current cash value. Thus your Whole Life insurance policy may have a current fair market value that can be determined by using a Life Settlement broker to submit your policy to multiple investors, generating a lump sum payment for you. This Life Settlement option could be a good choice for some people.

Once you start the process it can take from 16 to 20 weeks to complete and there will be a health exam as well as applications, and other procedures that will be used to ascertain the market value of your policy.

Life Settlements can be a valuable source of liquidity for Whole Life policy owners whose needs have changed or may otherwise surrender these policies or allow them to lapse.

However, Life Settlements are not for everyone. There are many factors to consider such as the need for continued coverage and weather you plan to replace your existing policy with another policy. Carefully consider such factors as your ability to obtain new coverage, the adequacy of any new coverage and cost of comparable coverage. You and your Life Settlement broker must assess your circumstances, including financial need and investment objectives, tax consequences, and other relevant implications of selling a policy.

Financial Partners of Aspen specializes in Life Settlements, Life Insurance, Planned Giving and Estate Planning.
Financial Partners of Aspen specializes in high end Life Insurance Brokerage, Estate and Wealth Transfer Planning for affluent clients in and around the Aspen Colorado area and beyond.
They are also active in Charitable and outsourced Planned Giving both for a living as well as pro bono for the Aspen Rotary Club and The Rotary Foundation.
If you have Life Insurance, Life Settlement or Planned Giving needs that are complex or sizeable FPA is the Advisor for the job, call them at 970-379-7777 or email at dkitchell at fpaspen.com
Also visit their websites at http://fpaspen.com or if you need term life insurance go to http://termratequote.com

Article Source: http://EzineArticles.com/?expert=D_Kitchell

Whole Life Insurance Policy Explained in Today's Economy
By John Fagan Jr.

Those who are looking at buying whole life insurance policies need to first understand the finer nuances of what constitutes a good coverage plan, but this comes after determining their personal situation in regards to financial needs of the full family.

As in the case of life insurance, policyholders buy just the required amount of coverage they feel may be needed to meet their family's financial needs in the event of their death, but since there is term as well as whole-life insurance plans - besides many other types of policies available today, a buyer can well be confused about which policy suits him or her best. This is why the aware shopper needs to get the chosen coverage plan be it whole-life insurance policy or even a term policy, explained by a professional.

For some persons, depending on their other financial commitments (e.g. a home loan for a fixed period or children's college educational loans to cover), a term insurance policy, which is cheaper and gives adequate coverage may be the best option. But, for many others, whole life insurance plans offer wider coverage with just a little more stretching of finances for paying higher premiums, so this works better, giving them peace of mind that their family (beneficiary) won't suffer any financial burdens upon the policy holder's death, but receive more than average death benefits from the insurer.

This is the main reason why people are keen on paying a little more on a whole life insurance policy, which is for a longer term but can be paid out no matter when the policy holder dies and beneficiaries named by him or her get to receive the proceeds directly from the insurance company. A whole life insurance policyholder is also required to designate an owner for the policy besides choosing one or more beneficiaries when signing up for the plan.

With higher premiums at stake and a lot more benefits than a policy, the whole life plan is a financial protection tool that should be shopped with more care and thus, it makes good sense to research various insurance companies, features offered by them and their T & C regarding coverage. This is because rates vary from company to company even though most insurers are offering the same coverage, so it is smart to try and figure out how much coverage is required, get quotes from several companies (thank goodness for the internet, which makes this task easy and fast) and then select the best deal from a list of potential providers, giving best coverage at affordable rates.

The above approach - online researching for best providers, policy features and rate differences allows buyers to save a pretty penny on their purchase and is recommended by experts as the ideal way to shop for an effective financial product like whole life insurance policies.

John Fagan is one that will direct you to the lowest possible price for your insurance needs. No matter the type of insurance you need we have it right at the tip of your fingers. Insurance Needs and a very short form Personal and Business needs

Article Source: http://EzineArticles.com/?expert=John_Fagan_Jr
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