Whole Life Insurance: 7 Things You Should Know About Whole Life Insurance

Home | Submit Articles | Login | Add Url

Number Times Read : 150

Categories


Adsense
Advertising
Advice
Article Marketing
Auctions
Banner Advertising
Blogging
Broadband Internet
Building Traffic
Business
Business Management
Career
Click Bank
Communications
Computers
Computers and Technology
Copywriting
Cyber Law
Drop Shipping
E-Books
E-Business
E-Commerce
Education
Email
Email Marketing
Entrepreneurs
Ethics
Ezine Marketing
Ezine Publishing
Ezines and Newsletters
Finance
Finances
Humor
Inspirational
Intellectual Property
Internet
Internet Business
Internet Marketing
Link Popularity
Management
Marketing
Medical Business
Motivation
Multimedia
Negotiation
Networking
Operating Systems
Organizing
Partnerships
Patents
Pay Per Click- PPC
Podcasts
Programming
Public Relations
Public Speaking
Publishing
RSS
Sales
Scripts
Search Engine Marketing
Security
Self Help
Self Improvement
SEO
Site Promotion
Social Networking
Software
Spam
Speaking
SSL
Success
Technologies
Time Management
Tools and Resources
Trademarks
Traffic Generation
Tutorials
Video Conferencing
Viral Marketing
Web Development
Web Hosting
Wellness, Fitness and Di
Wireless Networks

Stats
Total Articles: 24129 Total Authors: 3471 Total Downloads: 2137727 Newest Member RJ Dudley

Whole Life Insurance: 7 Things You Should Know About Whole Life Insurance

Category Rss Feed - http://www.internet-marketing-cafe.com/rss.php?rss=56

By : Daniel Theron 99 or more times read

Submitted 2008-04-16 04:15:58

How do you know if whole life insurance is the right choice for you? Here are 7 things you should know about whole life insurance.

1. You should know what whole life insurance is.

Whole life cover is also identified as permanent or straight life insurance.

Whole lifetime insurance provides death security for the insured's whole life span. The insurance payout is made to the contract's beneficiaries when the insured dies. The contract holder typically pays a level premium.

A whole lifetime plan also incorporates an investment module. This module gathers a cash surrender value. A withdrawal clause allows the policyholder to cancel her coverage and to receive the cash surrender value. The earnings on the cash surrender value of the policy collects tax-deferred. It may be borrowed against in the shape of a policy loan. The death benefit is reduced if the borrowed amount is not repaid.

2. You should know that whole life insurance is expensive.

Whole life insurance is expensive because you are paying for life cover as well as an investment.

3. You should know that whole life insurance covers you for your entire existence.

Whole life insurance insures you for your complete lifetime and not just for an exact period like term assurance does. Your death benefit and premium, as a general rule, will stay unchanged.

4. You should know that the return rate on whole life insurance investments are fairly low.

The return rate on a whole life assurance investment is low when compared to other investment options. You ought to judge your choice of policy on the life cover given and not on the rate of return of the investment attached to it. The tax benefits and cash surrender value of whole life policies may be viewed as an additional extra. Life assurance is not supposed to be used as a primary investment tool.

5. You should know that whole life insurance builds cash value.

This is the amount of cash that can be paid out to you if you cancel your assurance policy. The cash surrender value relates to the savings aspect of a whole life insurance policy. During the early years of a policy the savings aspect accumulates meager returns when compared to the premiums paid.

6. You should know that whole life insurance may earn dividends.

Dividends are not guaranteed. Dividends occur when the actual life assurance costs turn out to be a smaller amount than what was believed in setting the premiums. The insurance company may return a part of your life cover premium to you as a dividend.

7. You should know that whole life insurance requires a medical exam.

You may be obliged to undergo a medical exam in order to purchase life assurance. Your insurance company may need your medical exam results in order to determine the coverage and the premiums of your policy.

So that was 7 things you should know about whole life insurance. You may speak to your insurance broker if you need more information about purchasing whole life insurance.

Article From Internet Marketing Articles

HTML Ready Article. Click on the "Copy" button to copy into your clipboard.

<!DOCTYPE HTML PUBLIC '-//W3C//DTD HTML 4.01 Transitional//EN' 'http://www.w3.org/TR/html4/loose.dtd'>; <html><head><title>Internet Marketing Articles | Whole Life Insurance: 7 Things You Should Know About Whole Life Insurance</title></head><body><h3>Whole Life Insurance: 7 Things You Should Know About Whole Life Insurance</h3> By: Daniel Theron How do you know if whole life insurance is the right choice for you? Here are 7 things you should know about whole life insurance. 1. You should know what whole life insurance is. Whole life cover is also identified as permanent or straight life insurance. Whole lifetime insurance provides death security for the insured's whole life span. The insurance payout is made to the contract's beneficiaries when the insured dies. The contract holder typically pays a level premium. A whole lifetime plan also incorporates an investment module. This module gathers a cash surrender value. A withdrawal clause allows the policyholder to cancel her coverage and to receive the cash surrender value. The earnings on the cash surrender value of the policy collects tax-deferred. It may be borrowed against in the shape of a policy loan. The death benefit is reduced if the borrowed amount is not repaid. 2. You should know that whole life insurance is expensive. Whole life insurance is expensive because you are paying for life cover as well as an investment. 3. You should know that whole life insurance covers you for your entire existence. Whole life insurance insures you for your complete lifetime and not just for an exact period like term assurance does. Your death benefit and premium, as a general rule, will stay unchanged. 4. You should know that the return rate on whole life insurance investments are fairly low. The return rate on a whole life assurance investment is low when compared to other investment options. You ought to judge your choice of policy on the life cover given and not on the rate of return of the investment attached to it. The tax benefits and cash surrender value of whole life policies may be viewed as an additional extra. Life assurance is not supposed to be used as a primary investment tool. 5. You should know that whole life insurance builds cash value. This is the amount of cash that can be paid out to you if you cancel your assurance policy. The cash surrender value relates to the savings aspect of a whole life insurance policy. During the early years of a policy the savings aspect accumulates meager returns when compared to the premiums paid. 6. You should know that whole life insurance may earn dividends. Dividends are not guaranteed. Dividends occur when the actual life assurance costs turn out to be a smaller amount than what was believed in setting the premiums. The insurance company may return a part of your life cover premium to you as a dividend. 7. You should know that whole life insurance requires a medical exam. You may be obliged to undergo a medical exam in order to purchase life assurance. Your insurance company may need your medical exam results in order to determine the coverage and the premiums of your policy. So that was 7 things you should know about whole life insurance. You may speak to your insurance broker if you need more information about purchasing whole life insurance. Article From <a href='http://www.internet-marketing-cafe.com/'>Internet Marketing Articles</a> </body></html>

Firefox users please select/copy/paste as usual

New Members
	Sign up
	learn more
	Affiliate Sign In


Nav Menu
	Home
	Login
	Submit Articles
	Submission Guidelines
	Top Articles
	Link Directory
	About Us
	Contact Us
	Privacy Policy
	RSS Feeds

Actions

Print This Article

Add To Favorites


Sponsors

Privacy Policy \| Contact us
Powered By: SEO Marketing Guide \| SEO 1 Services Provided: SEO Services \| Submit URL