Whole Life Insurance

Whole life insurance provides the happy solution to the delicate matter of un unhappy death. In sickness and in health, we care and provide for our families. And at the end of that time, a whole life insurance policy can help you to continue to provide for them after you’re gone.

But whole life provides for your family in a very unique way…because with whole life, your premium payments become more than just a payment. They accrue and become a cash value account. And with this you can provide for yourself and your family.

How Do Whole Life Insurance Policies Work

Whole life insurance is a permanent life insurance…meaning it lasts your entire life. In most cases, the premium amount does not change, and the death benefits stay the same. Even if you have serious health problems. While it costs more than term life insurance, it’s still the most popular kind of individual life insurance in America today.

When you sign for a whole life insurance policy, you agree upon the premium payment, and how much of that payment will contribute to the cash value of the policy. As you get older, the premiums stay the same or increase according to what you agreed regardless of your age or health conditions. The cash value of a whole life insurance policy continues to grow. And all this time, your death benefit (the amount they’ll pay your beneficiary at the time of your demise) stays the same.

What Can I do with the Cash Values of a Whole Life Insurance Policy

The cash value of a whole life insurance policy is there for as long as the policy is in effect. You can withdraw the money and use it for anything. But withdrawing the cash decreases the death benefit.

The best way to use the cash value is to borrow against it. You can use this money for anything from paying off other loans to education funds. Borrowing the money also allows you to continue deferring taxes on the cash value (it’s taxable when you withdraw it.)

How Long Do I Pay the Premiums on a Whole Life Insurance Policy

On most policies, you continue to pay the premiums on a whole life insurance policy for as long as you live. Companies also offer the option to pay a lump sum in the beginning (creating an immediate cash value to the policy) and then make smaller premium payments throughout your life. You can also choose to pay a larger lump sum, without paying any premiums at all. Whole life insurance with modified premiums is a policy where the premiums incrementally increase as you grow older.

With any whole life insurance policy, everything is clearly defined when you purchase the policy. This includes the premium amounts, death benefits, and the amount of premium that contributes to the cash value.

Whole life insurance is about setting and meeting financial goals. When people depend on your financial decisions, whole life makes sense.

Talk to your Insurance Agent to ensure Whole Life Insurance is right for you!

More Whole Life Insurance Articles:

Whole Life Insurance is still a Preferred Choice

For a long time in America, whole life insurance was what most people bought. Lately, insurance companies have been offering other insurance at lower rates, but in most cases, whole life insurance is still the most beneficial of all plans.

Whole Life Insurance Explanation

A whole life insurance explanation should be required reading for anyone about to purchase life insurance. Whole life, in my humble opinion, has in recent years got a bad rap. People tend to buy term life insurance because it is cheaper...

By: www.compuquotes.com

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Why Businesses Benefit From an Affordable Term Life Insurance Rate

If you are seeking the most affordable term life insurance rate, you have come to the right place. With access to hundreds of insurance companies in the United States, Spectrum Direct brings you real-time life insurance quote information. Rest assured that in the event of your death, with life insurance, your survivors will be taken care of financially.

In addition to the many reasons why consumers take out life insurance policies, business partners also benefit from them. If you are a partner in a business, you can get an affordable term life insurance rate and policy to use to buy out your partner's estate in the event of his or her death. It is also beneficial to insure valuable employees, such as CEOs, whose deaths would cause a financial hazard to the company.

Another example of a business use for an affordable term life insurance rate and policy would be a person who borrows money for the business. In the event of his or her death, a policy would guarantee the lender that the loan would be paid back. It would also keep the person's business partners out of jeopardy if they had no means to take over the loan payments.

If you truly care about the people you could leave behind, a life insurance policy is in order. No matter what your income level, there is a policy that can replace your income and provide benefits to your heirs in the event of your death. Get your affordable term life insurance rate or instant life insurance quote now!

By : term-life-insurance.spectrumdirect.com

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Why Level Term Life Insurance is Often Less Expensive Than Other Types of Insurance

Level term life insurance gives you a fixed premium rate for a specific number of years. Usually, the term for level life insurance is 10 or 20 years, and the death benefit does not change over time. Its advantage is that you can lock in on a rate for the entire term of the policy.

One of the reasons why level term life insurance tends to be less expensive than other types is why all term insurance costs less: the insurance company only has to pay the death benefits if you pass away during the term of the policy. For as little as a few dollars a week, you won't have to worry about your premiums rising during that term, and you'll have the peace of mind knowing that your family is protected.

Since term insurance policies are taken over a fixed period of time, you can enjoy easy budgeting for the duration of your policy. You won't have to worry about your payments rising with level term life insurance, and your death benefit will remain fixed throughout the term of the policy. So you will know exactly what your payments will be for how long you will make them. You'll also know exactly what the lump sum payout will be for your beneficiaries, should you pass away during the insurance term.

Although level term life insurance is initially less expensive than permanent, or whole, life insurance, level life insurance has a downside. As you get older, your premiums will increase when you renew your policy. So though the premiums will be fixed during the term of the policy, when you go to renew it, they will go up, and you can again lock in on the new rate for the next term.

Level term life insurance is great for those on a budget. If you need more coverage or you want investment options, a whole life insurance policy could be in your best interest. Spectrum Direct offers many different types of life insurance policies to meet the needs of our customers. Contact us today for advice, or get a free rate quote for life insurance.

By : term-life-insurance.spectrumdirect.com

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Travel Insurance - Things You Need to Know About

Travel insurance is a type of insurance that gives coverage to those who travel to foreign countries on holidays or some business travel. This kind of policy protects you from losses while you are travelling. If you lose luggage or some personal possessions and money is stolen or lost, travel insurance will cover these and give you complete peace of mind while travelling.

Many people choose this kind of insurance, but not all of them know really what it is and how to benefit from it. If you know everything about it and what is included in, you will be able to make the most of your protection.

Main categories of the risks that are covered by travel insurance are:

Trip cancellation or delay - Cancellation of a trip is covered by your chosen insurance company if a trip is cancelled for illness, death, bad weather conditions or other specific unforeseen circumstances. When trip is delayed company reimburses you for additional accommodations or travel expenses.

Loss, delay or theft of baggage or some personal possessions and money - This will cover you for any items and possessions lost, delayed or theft while travelling. This kind of insurance is very comfortable to use when your destination place is too far and there is no any charter flight. Lots of luggage is lost in international airports and the flight operator reimburses luggage lost by its weight, not value. In this case travel insurance is perfect.

Medical expenses or medical evacuation and repatriation - It covers medical expenses incurred while travelling. Medical evacuation is just what it says; if you need to be transported to an appropriate medical facility or to return home, emergency evacuation arranges this. Repatriation benefits cover the cost of returning a deceased traveller’s body back to the place of residence.

Accidental death or injury - Accidental death or injury provides cash payment for accidental death or injury while travelling.

Travel insurance benefits vary, each of the insurance companies offer different policies with different benefits and rules that should be followed if you want the company to cover your expenses. Those mentioned above are most common ones.

In conclusion, it can be said that travel insurance is really essential product across the globe. Your private health insurance will only cover your expenses in your own state or country, but not abroad. You will loose nothing with buying this kind of policy, but without the protection of your travel insurance, you will be very much out of pocket, as there can occur many financial losses. As a rule medical service is very expensive abroad and by purchasing insurance policy for very small amount of money, you can fully get relaxed.

So, if you are planning your trip out, get more information about travel insurance policy, find most reliable insurance company, find out what is provided by this company and just enjoy your travel with peace of mind.

Do not forget to set off on your trip with your travel insurance policy in your pocket.

By David Hunter

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Travel Insurance - The Umbrella of Safety and Security

The main idea behind travelling is to unwind oneself with the purity and freshness of exotic locations forgetting all the fret and fever of day-to-day life. For this it is necessary to be free from all kind of anxiety and leave the hassles of routine life into sweet oblivion. But it is always not easy to feel free from tension while you fly from one place to another solely depending on the smooth function a machine.

No sane person also can feel fully secure while carrying expensive luggage and luxurious gadgets with him. Then is there no way out to unleash oneself in a journey and take full delight of holidaying. Definitely there is a way out and that is travel insurance. You can give the responsibility of looking after you, your baggage or beloved ones to someone else if you go for insurance.

It is not the claim of a travel insurance that you and everything attached to you will be hundred per cent safe while travelling. In fact, there is no such agency or entity that can claim to have this capability. But, of course, insurance can help recover the damages done to you during your travel. Meeting physical accidents, loosing luggage, cancellation of tour in the middle, and some such other damages are covered by insurance.

Travel insurance is like a small step that ends in big profits. It takes only handful of pounds to go for it. The amount it covers is really big. However, the coverage amount is directly proportionate to the amount one pays to the insurance company. In most of the cases, the paid amount is refunded with a good amount as bonus. In case of occurrence of any damage, the person receives an amount, fairly good enough to recover the loss. Moreover, the mental peace and sense of security it provides during the journey is also really worth the amount one pays.

By Darlene Kaitlin

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Travel Insurance - 10 Top Tips

Insurance is one of those areas that is generally unavoidable; you’ll need it in some form or another somewhere along the line. For the majority of us that just happens to be every day.

One area always in the spotlight one way or another is travel insurance. Yet many of us still aren’t sure if it’s something we really need and to this end, many of us travel without it every year. Here are 10 top tips to help you make the right decision.

1) It is a common myth that if you take the European health card (E111) with you when you travel, you will be covered for anything that goes wrong. This is not the case. The card is just there to be given to a hospital, etc, in an emergency so they will treat you (this is still a must have for this reason). You will still be billed for any treatment you receive in a private health care system. For this reason holiday insurance can be invaluable.

2) When applying for your insurance policy, you must inform the company of any/all medical conditions you suffer from, no matter how small or insignificant they seem. This could prove to be something that voids your policy if you do not. You will find this most probably increases your premium, but it is worth it to keep your policy valid.

3) When looking for cheap travel insurance, be careful to check you are not losing out on any coverage that you will need, such as theft, cancellation of holiday/flights. You may find that some polices really are too good to be true and cover you for the bare minimum.

4) If you are planning to go on a trip that may include activities that could be viewed to be dangerous by the insurance company, you may find you will not be covered under most policies. You will need to find a policy aimed at covering for such activities, i.e. a winter ski policy or adventure holiday insurance. If you are thinking of backpacking, you would similarly be best to look for a backpacker’s policy.

5) The majority of companies offer single, multi trip, family and annual policies. If you are going to travel just once in a year as a single person or a couple, it will work out cheaper to apply for a single trip travel insurance policy. If however you will be travelling 2 or more times, a multi trip policy will save you money. The same applies to a family group, finding separate policies will be expensive, opt for a family policy and you will save money and most probably receive cover for children (under 18) free.

6) Always check excesses on the policy you choose, most policies are peppered with them and finding a policy with a better or no excess in an area you think relevant is prudent.

7) An important thing to remember in regards to item/theft insurance is; if you leave valuables unattended/ out of sight, you will not be protected.

8) An important “don’t” is not to let your holiday provider package the holiday insurance for you as it will work out much more expensive in the long run. In less than a couple of minutes you can find a much cheaper quote on a comparison site. Research from Alliance and Leicester has shown UK holiday makers overspend by £1.3 billion on travel insurance each year, for this very reason.

9) It is important to remember that the insurance company will not pay out for an accident caused whilst under the influence of alcohol or drugs.

10) Finally, in research done by the internet company Moneysupermarket.com it was found that you should ensure you have the following amounts of cover as minimum: Medical expenses £2m, personal liability £1m, cancellation £3,000, baggage £1,500, cash £250, a 24 hour emergency line and cover for legal costs and finally financial ombudsman service membership in case you need to complain.

by Chris Rowlands

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Long Term Care Insurance: Why You Need It, Why People Avoid It And A Simple Way Out

If you've never had the "privilege" of nursing the sick elderly, you may not understand the importance of long term care insurance. If you've never been close to someone who needed custodial care for a protracted period, you may make light of this. But you shouldn't treat this lightly.

You need long term care insurance...

1) People are living longer thanks to medical science. This means that a greater number of people will live to be so old they'll need some form of custodial care.

2) Sickness that makes it compulsory that you get custodial care may strike (Unless you're immune to sickness like me).

3) Providing long term care without insurance can really eat away your entire life's savings.

There are several reasons why people choose not to buy long term care insurance. Top among these is a lack of understanding of the risk involved. However, for most who would have chosen to get a long term care insurance policy, the biggest challenge is what it would cost them. That is, the extra cost.

If you belong to this group here's what I recommend (I'm assuming you already have auto and home insurance)...

Take out time to visit at least five insurance quotes sites. Get and compare quotes for both your auto and home policies (and other policies if you have others). Also get quotes for long term care insurance from all these sites.

Compare the quotes you get for the best price/value.

This process will take you around 3 minutes per site per insurance policy. But, I'm glad to inform you that if you do this well, you'll most likely get enough savings to totally pay for your long term care insurance without changing your insurance budget. Remember, getting insurance quotes is free. And, they are no-obligation quotes. Start now. No, don't put it off till tomorrow. Tomorrow never comes.

Author: Chimezirim Odimba

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