Is the old Whole Life still a viable form of insurance coverage?
No, in our professional opinion: the cost per $1,000 is too expensive (almost double that of Universal Life at so many ages) and the internal rate of growth quite minimal. Cash accumulation inside a Universal Life Policy should be, in our opinion, the very least amount of money required to keep the policy in effect for the whole of one’s life under the “Guarantees” illustration in the policy.
Related Questions
- A patient has missed answering a question on a Quality of Life form for a previous visit. Do I ask the patient to complete this question retrospectively at their next visit?
- What will happen to my insurance coverage if the Iowa Life & Health Insurance Guaranty Association becomes liable for my policy?
- Is the old Whole Life still a viable form of insurance coverage?
