Whole Life Insurance Explained
When looking to have whole life insurance explained in detail you should also ask the question what is universal life insurance. The reason for this is because both whole and universal coverage types are quite similar and can be combined. Whole life insurance is coverage that lasts your entire lifetime. Depending on the policy and company you choose, your premiums may stay the same throughout your life, which means if insured when young and healthy you may be able to lock in very affordable rates.
If you are of advanced age and prefer a whole life policy for a short term such as 15 years, or want to pay cash for the entire whole life policy, many companies can help you do just that. State Farm is just one example of a well-known insurance company who offers this option. In some cases, whole life policies create dividends for the insured. These dividends are not guaranteed but if you do accumulate them they will be paid to you by the insurer. Whole life insurance, unlike term, also offers guaranteed cash benefits based on the specifics of your policy.
Universal life insurance was actually derived from whole life insurance and is similar in many ways. However a universal policy is more flexible when it comes to dividends and investments. Any premium payments above the actual cost are credited as cash to an investment account. Most would say that a universal life policy is a stable and conservative investment vehicle. Variable universal life policies are even more flexible because the policy holder can choose where they want their funds invested and there are more investment options including stocks.
Now that you've seen whole life insurance explained and learned what is universal life insurance, you are better equipped to make a decision regarding your insurance needs. One way to begin the process of obtaining insurance is to shop around for life insurance quotes. The Internet is a great tool because not only are there free life insurance quote providers, there are also calculators to help you figure out how much insurance you need. With all the resources online and available from your insurance company (if you currently have one) you should be able to find the ideal life insurance coverage for you and your family.
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Life Insurance Corporation of India crosses One Crore Individual Policies mark Bangalore, Aug 27: India's largest life insurer, Life Insurance Corporation of India, has crossed of One crore mark Individual Policies for the current financial year, with First Premium Income of Rs 15,917 crore in the fortnight ended August 14, 2010... | ||
A third of households lack life insurance By Dow Jones Newswires-Wall Street Journal Posted today at 6:37 a.m. Nearly a third of U.S. households have no life-insurance coverage, the highest percentage in more than four decades, according to research firm Limra... | ||
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Canada's Manulife, Swiss ACE bidding for NY Life's Asian ops - Insurance News Net Canadian insurance group Manulife Financial Corp (TSE:MFC) and Swiss sector player Ace (FRA:AEX) have submitted bids for the Hong Kong, Taiwan and South Korean business of US mutual life insurer New York Life Insurance ... | ||
5 Life Insurance Strategies for Retirement Planning - Yahoo Finance When the nest empties, the need for life insurance diminishes. Baby boomers and retirees should think strategically about existing life insurance policies and future life insurance needs. Here is what to do with a life ... | ||
PLIA marks Insurance Consciousness Week The Philippine Life Insurance Association (PLIA), the umbrella organization of the life insurance industry, launched The Life Insurance Consciousness Week (LICW) celebration for the year 2010 with a Corporate Governance Form held at the Insurance Institute for Asia and the Pacific (IIAP) last August 18, 2010... | ||
AIG Commits To Selling Nan Shan To China Strategic Consortium - FOXBusiness TAIPEI -(Dow Jones)- American International Group Inc. ( AIG ) said in a statement Tuesday it is committed to selling its stake in Nan Shan Life Insurance Co., its Taiwan life-insurance unit, to a consortium ... | ||
A.M. Best Revises Outlook to Stable for Ameriprise Financial, Inc. and Its . - MarketWatch (press release)
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Bring Your Genes to Your Life Insurance Sales Representative . Bring Your Genes to Your Life Insurance Sales Representative The Berkeley Blog: Put me down as one of those who was puzzled when Dean Mark Schissel said on EURAll Things Considered,EUR of the three genes to be tested in EURbring your genes ... | ||
Life Insurance Stocks Declining (MET, LNC, GNW, MFC) - Newsworthy Stocks (blog)
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NY Life tops 2Q list of fixed-annuities sellers - InvestmentNews
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Ocean Life Insurance (Thailand) Selects Mastek's ElixirAsia Policy Administration System as its IT Platform for Growth - OLI set to Improve Operational Efficiency and Gear up for Growth in the Thai Market - ElixirAsia Policy Administration System implementation to Cover Both Individual Life and Group Life.. | ||
China Life Chairman: No Plan To Buy Stake In AIA Before Its IPO - FOXBusiness BEIJING -(Dow Jones)- China Life Insurance Co. ( LFC ) doesn't plan to buy a strategic stake in AIA Group Ltd. prior to the pan-Asia life insurer's imminent initial public offering in Hong Kong, China Life ... | ||
HCC Life Insurance opens new office in Scottsdale, Arizona - Insurance Business Review
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Americans Households With Life Insurance Hits 50-Year Low 30 Percent Have Coverage The number of American households with individual life insurance has hit a 50-year low, according to the Windsor-based trade research firm Limra... | ||
Life Insurance Payouts: Are You Earning Enough on the Money? - CBS . Did you get a payout from a life insurance policy? Is it sitting in a special checking account provided by the insurance company? A class action lawsu... | ||
Dead soldiers' parents sue insurer Prudential over interest paid on life insurance policies The parents of six deceased U.S. soldiers are suing Prudential Financial, saying it paid paltry interest on military life insurance benefits while keeping more generous interest earnings for its... | ||
Life Insurance Payouts: Are You Earning Enough on the Money? - CBS MoneyWatch.com (blog)
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Report: Ownership Of Individual Life Insurance Falls To 50-Year Low Despite the fact that most American families have less to fall back on financially than when the economic downturn began, ownership of individual life insurance has hit a 50-year low, according to a new study by Windsor-based LIMRA... | ||
Fewer Americans have life insurance - MSN Money The figures come from the " Trends in Life Insurance Ownership " study, which the industry group LIMRA conducts every six years. This year's survey reports that the percentage of households with life insurance has ... | ||
$707404 Federal Contract Awarded to General American Life Insurance - Insurance News Net (press release)
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China Life Insurance Closed At A New 52-Week Low China Life Insurance (LFC) gapped open sharply lower Thursday, but traded in a range for the bulk of the session. The stock closed down by 2.24 at $59.01 on strong volume... | ||
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