Whole life insurance sentence example

whole life insurance
  • Choosing a whole life insurance policy will provide the insured with coverage for his or her lifetime.
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  • There are two basic types of life insurance: whole life insurance and term life insurance.
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  • When a person takes out a whole life insurance policy, also referred to as permanent life insurance, the coverage stays in effect for the insured's entire life and in most instances, the premium does not change.
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  • Traditional whole life insurance guarantees a minimum rate of return on the cash value of the insurance policy.
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  • Interest sensitive whole life insurance provides a variable rate of interest on the cash value portion of the insurance policy.
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  • Single premium whole life insurance is purchased in one lump sum payment.
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  • When shopping life insurance coverage, you have two basic options: whole life insurance or term life insurance.
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  • Before deciding between whole life insurance and term life insurance, you should learn as much as possible about each option.
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  • Term life insurance is different than whole life insurance because it provides coverage for a very specific amount of time.
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  • In addition to the length of coverage, a term policy differs from whole life insurance because there are no investments that can be made.
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  • For example, compare term life insurance policies with other term life insurance policies and whole life insurance policies with other whole life insurance policies.
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  • A permanent life insurance policy, more often known as a whole life insurance policy, is guaranteed to pay your beneficiaries a life insurance settlement in the event of your death.
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  • One way to save money on monthly premiums is to purchase term life insurance instead of whole life insurance.
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  • The Grow-Up Plan is a whole life insurance plan that covers small children between the ages of 14 days and 12 years old.
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  • The life insurance policies offered to young adults between the ages of 13 and 17 are also whole life insurance policies.
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  • In the case of endowment and whole life insurance policies, the beneficiary receives a death benefit if the insured is injured and dies.
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  • For those interested in purchasing a whole life policy, two basic types of policies are available: continuous premium whole life and whole life insurance one time payment.
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  • A whole life insurance single payment policy is a plan in which one relatively large premium is due when the policy is issued.
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  • For people who want to buy a single payment whole life insurance plan, but can't afford the one-time payment, some insurance companies offer installment plans.
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  • As you consider purchasing a single payment whole life insurance policy, it's a good idea to consult with a tax or financial advisor.
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  • Term life insurance is usually a less expensive option than a whole life insurance policy.
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  • A whole life insurance policy is not restricted to a set period of time.
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  • Whether term life or whole life insurance is right for you depends on several factors.
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  • Understanding this disagreement can help you to understand the definition of whole life insurance.
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  • This means that when you purchase a whole life insurance policy you are covered for your "whole life," meaning that there's no term when the policy ends.
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  • A whole life insurance policy builds up what's called "cash value" over time from the interest that your premiums earn.
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  • Many insurance companies offer additional or fewer varieties of whole life insurance products.
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  • This assumes, however, that you can afford the more expensive early premiums associated with a whole life insurance policy.
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  • Before buying a life insurance policy, conduct thorough whole life insurance comparisons to determine if the policy is right for you.
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  • Once you have decided that whole life is best for you, you need to conduct whole life insurance comparisons to find out which particular policy is the best choice.
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  • You get paid through periodic checks, similar to how payouts work with whole life insurance.
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  • You may have received a sales pitch from an insurance salesperson with a bewilderingly high premium for a whole life policy, and you want that whole life insurance explained.
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  • A whole life insurance policy has a higher premium for the same dollar amount initially, but can be the least expensive form of life insurance over the course of a lifetime.
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