Best Life Insur

What is Whole Life Insurance and How to Find the Best Whole Life Quote?

by beamalife on Feb 3, 2010

All life insurance policies pay a death benefit, but certain policies, known as “cash value” or whole life insurance policies, so more than that.  These policies accumulate a cash value over time, which you can withdraw or borrow from after a certain period of time. Compared to term life insurance policies – pure insurance policies that offer a death benefit but no cash value – cash value policies are higher in terms of premium.  The premium difference is invested in a way that earns interest for you, tax free.   And while term policies provide death benefits over a pre-determined period of time (for example, 5 years, or 10 years), cash value policies are generally lifetime policies which, as long as they remain in force, will pay a death benefit regardless of when the insured dies. There are different kinds of cash value life insurance policies, so you’ll want to know the specifics of how your policy works in detail.  But generally, you pay...Read More >>