Whole Life Insurance

Probably you have already heard this term many times before and asked yourself what is whole life insurance policy and how can you use it. A whole life insurance is a type of contract that provides coverage for as long its owner is still alive. In other words, if you purchase this type of policy, you would not have to worry about all the paperwork again after the contract expires and thus losing so many days with formalities. The contract expires when you die, but what are really important are the financial benefits left behind.

whole life insuranceMany people argue against this type of insurance saying that it is too expensive and they usually declare that the only good policy is term life insurance. But we disagree and we have good reasons to do so.  Let us analyze the facts and their consequences. A term life insurance is built to offer protection only for a limited time, usually for 10 or 20 years. After that, if you survive, you will get no returns other than the ones stated in the contract. Looking this way, it is better to die while you are still under contract and this is a weird situation, if the whole purpose was to protect yourself and your family.

This is not the case with a whole life insurance.  Unlike term, which makes you pay higher and higher premiums, a whole life policy has standard premiums, locked at a fixed value. They initially seem to be expensive, but compare them with those of a term life after 10 or 20 years and you will see that they are cheaper.  After a decade,  the owner of a term life could pay $ 500/month, but you would still pay the same $200/month.

Do not forget the whole purpose of purchasing insurance: securing means for financial protection for yourself and your family.  Without a steady flow of income, your family will have serious problems after your death. Someone will have to support your spouse and children, if they are not old enough to make it on their own. This policy is used to accumulate a great amount of money that will be passed to the inheritors so you can help them succeed in life.  Securing a solid financial start is something that will be greatly appreciated and will keep you alive in the memory of the beloved ones.

Our website will help you find the best whole life insurance, if you want to sign for a policy. We have excellent quotes and you will obtain a clear view. Click here!