subject: Whole Life Insurance - Importance Of Whole Life Insurance [print this page] Whole life insurance is a type of insurance that is placed on the insured person or policyholder for a fixed amount of money with a definite premium paid every year. The premium is paid in the same amount every month or year during the lifetime of that insured person until the point where they pass away. At this point, the entire face value of the insurance policy is paid out to the beneficiary for that plan. If your family does not already have life insurance coverage, then you need to consider buying some for financial protection and serious peace of mind.
Whole life insurance is one of the most basic types of life insurance that is available to you. While it can carry higher monthly or annual premiums in comparison to term life insurance, the trade off is pretty obvious. This type of life insurance must be paid for continuously until the policy holder passes away, but in return, there is always a payout to the beneficiary. In term life insurance on the other hand, if the term period ends, premiums are no longer due but the coverage payout is no longer valid, either. These two insurance policies are unique, but either may meet your needs depending on what you seek.
When you are ready to buy life insurance for your family, you must decide what type of insurance is going to provide the best coverage for protection and peace of mind. Whole life insurance is just one of the many options available to you. Requesting quotes for different types of insurance is the best way to get a feel for what options are available, and which are best going to be capable of meeting your needs. Making informed purchase decisions is the best way that you ensure satisfaction with your purchase decision.
When you go online, you can find whole life insurance quote websites that allow you to request numerous life insurance policy quotes in a single application. This allows life insurance companies to compete over your business, offering you greater coverage at lower prices in an attempt to meet your needs. Take advantage of this unique service and compare the various quotes offered to you, coupled with live support from an insurance agent who will provide you obligation-free advice and guidance in choosing the right life insurance coverage for your needs, the needs of your family and some much-needed peace of mind.
by: Troy Truman
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