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whole life, even if it is not the cheapest life insurance you can still meet the needs of some. Why some people have such an aversion to this policy I will never understand. Term insurance is also good insurance and can in more cases than whole life because of its low cost. More and more people can afford it. Both types of life insurance to serve the same purpose, however, if you whole life you get a few additional benefits, term life insurance is not. Let us take a look at the whole life insurance and their benefits.

Level Premium

Whole life insurance has a fixed level premium increases that are never as long as you own the policy. If you pay a premium whole life is a part of payment of death and a part is on cash values. In the first years of a portion of the premium will also apply to the administrative costs.

Death benefit

Like any other life insurance whole life insurance which has a guaranteed death benefit may be paid, either in one lump sum or in the form of a monthly income. The death is usually free from federal taxes. There are several options, including a life-income income, an income for a predetermined period and an income for a fixed amount. The insurance may also be the principal and only pay the interest. The client is available on request.

Cash values

The whole life insurance provides a guaranteed cash value that accumulates tax deferred. If you ever need money you can borrow from your cash value. You do not need to say, the insurance, why you the money back and you pay the money at your convenience.

Dividends

Cash values earn dividends, depending on the performance of the company. Dividends are not guaranteed. You can cash in, you can collect the interest, can be used to reduce premiums or they can be used to purchase paid-up additions. Paid-up additions on a whole life insurance is a fully paid-up whole life policy. These additions are paid money and dividends.

There are many drivers, so you can access your entire life. The two main drivers are the exemption of premium benefit and the accidental death benefit rider is also known as the dual compensation driver.

Waiver of premium.

If the insured should be disabled at any time after six months of disability the life insurance will step in and pay the premiums, even if the disability lasts for the lifetime of the insured.

Accidental death benefit

If the insured person should have in the event of an accident, for example, a car accident, the life insurance policy will pay twice that in the event of death. If you have a policy for 100,000 U.S. dollars, and you have the accidental death benefit rider, the insurance pays $ 200,000 to your beneficiaries.

The above-mentioned benefits, you can display the additional premium you pay for a whole life insurance.

For more than 40 years Donald is known for his extensive knowledge of the life insurance business. He represents some of the largest and best life insurance in the United States and Canada. His advice is invaluable.

Donald's website: http://www.lifeinsurancehub.net