What Are The Main Differences Between The Types of Permanent Life Insurance Available?
There are various types of permanent life insurance products available, with the main difference between them being: • The flexibility of premium payments • How the cash value is invested • The death benefit guarantees What Are The Benefits and Disadvantages of Whole Life Insurance? Whole life insurance is a popular choice among policy holders, for many of the reasons that you will see below, but keep in mind that as with any type of policy, there are both disadvantages and benefits, including: • With Whole Life Insurance, the policy does not expire as long as premiums are paid • Whole Life Insurance does not require renewal • The face amount of insurance and the premium are fixed and do not vary • Premiums are typically due each year for the life of the insured, but whole life insurance policies often pay dividends, and you can typically choose how to apply them subject to the terms and conditions of the policy. Typically, dividends can be used to either pay premiums or purchase addit
