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Whole Life Insurance Policies - One of the Best Insurance Options Available

February 22, 2012 | Comments: 0 | Views: 131

Whole life insurance is a type of insurance that offers insurance protection throughout your entire life, and not a specific amount of time like other forms of insurance. This kind of insurance is also beneficial to the dependents of the person carrying the insurance policy, as it can build the value of your cash. This means that the dependents will have more money than the holder of the policy contributed. It is also a guarantee that the lives of the dependents will not be altered even upon the death of the holder of the policy.

One can also use their whole life insurance policy to get loans, and the insurance money itself is protected from taxation until it is withdrawn from the insurance company. It is broken down into sub-constituents like the single-premium, the traditional and interest-sensitive insurance policies.

Interest-sensitive insurance - This has a changeable rate on the cash value section. You can change many things within this kind of insurance policy such as raising the death benefit without necessarily raising the premium rates. It gives a person some elbow room to change the conditions of the insurance policy to be in line with their financial situation.

Traditional whole life insurance

Here, one is assured of a minimum rate of returns on the cash value section. It is not as flexible as the interest-sensitive insurance policy, but it also does not change. This offers the holder of the policy the assurance that no matter what happens, a certain amount of money will be made available to the dependents, thereby shielding them from further financial distress.

Single-premium insurance

This is a kind of insurance cover that concerns people with a large amount of money for one large deposit. This kind of insurance policy also builds cash value also has tax-exemptions like the other forms of insurance.

Choosing whole life is the best bet for a secure medical future. It offers the holder of the policy and his dependants lifelong insurance coverage and has no more medical exams to be conducted. Many insurance companies offer life insurance on-line. The premiums remain the same throughout the life of the policyholder. It also offers tax-exemptions that are profitable since in the end because one has more money at the end is able to do a lot more with it.

Compared to other forms of insurance, it has the lowest rate of returns on the cash value section of the insurance. It is not such a dependable investment tool because life cannot be measured and one may end up waiting a very long time to have access to the funds. However, it is the safest option because it has no time limit on the holder of the policy. As long as they are alive, they have insurance coverage.

We provide the best info about whole life insurance and life insurance on-line. For further details please visit the provided links.

Source: EzineArticles
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