Whole Life Insurance can be both an investment vehicle as well as a way to protect your family in the case of death. This article, does a good job at breaking down some of the various types of Whole Life Insurance Options.
Limited payment whole life insurance - Limited payment whole life insurance policy is a protection for your life with the limited quantity of payments.
Level insurance premium whole life - Payments would be fixed throughout the life of the policy, as opposed to increasing as you get older and you chance of death increases.
Undetermined premium whole life insurance- Is an adjustable premium policy and requires premium payment throughout the life or as long as you want it to be in force.
All single premium life insurance - You pay a single fee at the start of the plan and a single premium whole life insurance policy has immediate cash and loan value and usually considered as an investment tool.
Comments