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Life Insurance


Whole Life Insurance

There are many forms of life insurance available and one such type is the Whole life insurance.

In this form of insurance you receive insurance protection for your entire life. The premiums must be paid throughout the policy holder's life and it is necessary to pay them continuously to receive coverage, as failing to do so will result in the policy lapsing. It is advisable to take up this policy type early on in life as the premium amount won't be a big burden then and as the years go by the rise in income will make the premium payment not such a big burden on the finances. Premiums can be paid in a single stroke or periodically, but those considering this policy type should note that premiums can go up with the rise in mortality cost.

Whole life insurance policy offered by insurance companies can be of many types. These are participating, non-participating, indeterminate premium, economic, single premium, interest sensitive and limited pay. Those interested in taking up this policy type need to check out these types in detail before taking up any one of them because of the many features and options put forth to them.

Other features of the policy are the constant premium rates, loans and refund provisions put in place for policyholders. The policy holder can take a loan from the insurance company on the policy to meet financial requirements and when the policy matures the policy holder will get refund on the policy amount. This refund amount will depend on the policy conditions and other factors such as the period, premiums paid and age of the policyholder. In this policy type, the insurance company guarantees that the cash value of the policy will rise, no matter how it performs in the future and this is a feature not seen in universal life insurance and variable universal life insurance policy.

Before taking up whole life insurance, look into the various types offered under this category by your insurance company and consider the features of each and your benefit under each. This way you can choose one that suits your whole insurance requirements.

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Life Insurance Learning centre

Life Insurance

Very vital and one of the most important insurances


About Life Insurance

What is Life Insurance?

Why do you need to take life insurance?

Why Life Insurance is needed?

Tips on what to ask your broker when taking up a life insurance policy

Some tips on what you can ask your agent

Donating your life insurance for cash

You can donate your life insurance for cash.

Factors to consider before taking up Life Insurance

Important factors to consider before taking up life insurance policy

How do you choose a life insurance company?

Find out the procedure that helps in taking life insurance in easier way

About Group Life Insurance

Group Life Insurance is the one that is offered by the employer

Cash Value Insurance

An insurance by which you can avail cash return from your policy

Accidental Death Insurance

Insurance paid out when there is a loss to due to an accident

About Term Life Insurance

One of the most common and the least expensive life insurances.

Whole Life Insurance

As the name suggests, it is the insurance policy for whole life

Universal Life Insurance

Life Insurance policy which is permanent

Variable Universal Life Insurance

This insurance policy can be helpful when you are looking for more of a return on policy

Joint Life Insurance

Life insurance policy that is suitable for members of the family

About Endowment Life Insurance

One of the policies where the lump sum is paid at the eventual death

Types of permanent life insurance

Types of policies applicable for life on permanent basis

Types of Term Life Insurance

One of the insurances where policy holder is paid during the policy if he dies

Types of whole life insurance

Types of whole life insurance policies discussed above


 
 
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