Are there different types of whole life insurance policies?
Yes there are many types of whole life insurance policies such as: Participating whole life insurance – Participating whole life insurance policies may pay dividends…or they may not as dividends are never guaranteed. Non-participating whole life insurance – Does not pay dividends Limited pay whole life insurance – is a whole life insurance policy where you will pay premiums for a limited period of time with no further premium requirements. Compare this to a traditional whole life insurance policy where you pay premiums every year. Single premium whole life insurance – is a whole life insurance policy where you pay a single premium with no further premiums. Get a FREE Life Insurance Quote Today! Whole life insurance cash values – Over the course of time, a whole life insurance policy will build cash values. If your whole life insurance policy builds enough cash value, you may be able to borrow cash from the policy via policy loans. It is important to note that your beneficiaries DO NO
