Whole life insurance is permanent insurance that is
guaranteed to last for your entire life. Whole life not only provides a death
benefit but also builds up cash value that can be available during your
lifetime. If you are sick and laid up, you can withdrawal from the built up
cash value while the face amount remains unchanged.
· Great
way to accumulate tax deferred funds
· Easy
access to cash
· May be
used to transfer wealth
The several types of whole life policies are:
Whole life 100
·
Preserve or accumulate wealth
· Fixed
premium to age 100
Life Paid Up at 65
· Whole
life policy with level premiums payable to age 65
· Ideal
for people who want premiums to end during retirement years
· Higher
accumulated cash value at 65 versus 100
Life Paid up at 95 is same as for 65.
Single Premium Life
With SPL, you can make a 1 time premium payment to secure
a paid up policy providing a guaranteed death benefit.
· Ideal
for those in or approaching retirement years
·
Interest credited immediately upon payment of premium
There are expenses associated with death. If you believe you have yourself covered with the bare minimum of life insurance you may and chances are, will be leaving outstanding expenses for your family to cover out of their own pocket. Now is your opportunity to make sure you have a well-designed and enough money in your financial portfolio to cover all expenses associated with your death and protect your family from having to dip in any saved up money.
There are expenses associated with death. If you believe you have yourself covered with the bare minimum of life insurance you may and chances are, will be leaving outstanding expenses for your family to cover out of their own pocket. Now is your opportunity to make sure you have a well-designed and enough money in your financial portfolio to cover all expenses associated with your death and protect your family from having to dip in any saved up money.
Every individual has their own unique
situation. Designing a financial plan is as individual as you are. Consulting
with a licensed, experienced representative is the first step in planning a
financial protection for you and your family. Consultations are free and
information is kept confidential.
An hour of your time will make the difference between financial ruin and financial protection.
