Whole Life Insurance

Whole Life

Whole Life is also insurance you can have for the rest of your life.  However, since there is a definite cash value component, you pay much higher premiums.  It’s really your money that’s accumulating….  And, for this reason, they generally don’t make sense for most people.

What’s the difference between Universal Life and Whole Life?
The biggest difference between Whole Life and Universal Life insurance is that the premiums for whole life are much more expensive because they have a definite cash value component.

How are premiums determined?
Below are some of the criteria that go into determining the premium.

  • Age
  • Gender
  • Smoker/Non Smoker
  • Height/Weight
  • Family History
  • Travel plans
  • Hobbies

As always, I recommend you speak with a knowledgeable, independent agent who can assess your needs along with your health, and recommend the best policy available on the market.

More about Term Life | Universal Life