Insurance
Whole Life Insurance
Whole life insurance is permanent life insurance that offers both guarantees and cash values. Unlike universal life insurance, with whole life insurance the insurance company chooses the investments. This makes it safer and provides steady returns. Historically the investment returns have been about 6%+ with very little standard deviation.
A popular choice for whole life insurance is called 20 pay. This means that you only have to pay the premiums for 20 years at which point the policy becomes paid up and premiums are no longer required. Once the policy is paid up, the cash values and death benefit will continue to compound tax free.
Cash values within whole life insurance policies can be accessed without cancelling the policy. This is done via policy loan. Then upon death the loan is paid off and the balance goes to the insured’s beneficiaries.
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Insurance In Detail
Are you protecting your most valuable asset: you?
Term Insurance
Term life insurance is the most affordable kind of life insurance; a large death benefit can be acquired at relatively little cost.
Whole Life Insurance
Whole life insurance is permanent life insurance that offers both guarantees and cash values
Universal Life Insurance
Universal Life Insurance has an investment component to it that grows on a tax sheltered basis.
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