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Permanent Life Insurance — When It’s Your Best Option

Todays Date: November 17, 2018

If you want to get the most coverage per premium dollar spent then whole life insurance is NOT for you. It’s not the cheapest out there for you — You’ll save much more with a term life policy given exact same circumstances. Getting the cheapest policy is not always what it is cracked up to be. Competitive prices that offer better values are more attractive than a cheap policy. Sometimes this makes whole life policies a better option. Whole life is frequently a superior value at a more competitive rate, let?s go through why that is…

1. A whole life insurance policy must pay out a benefit provided you fulfill your own part of the contract. It’s NOT a question of if; it’s a question of when. Whole life guarantees that when you expire your benefits will be paid.

2. If you become seriously ill once you have bought your policy, you have nothing to be concerned about. Remember, once you’ve signed the dotted lines, the insurer is stuck. Term life is not the same, your insurance is finished the instant it runs out.

3. Whole life policies develop a cash value so you can give up the policy for the cash value or it can be used to secure loans. The best thing to do is to sit down and really study your policy. Your benefit amount can rise and fall depending on certain actions that you take. Others may incur a penalty or charges.

Many people avoid a whole life insurance policy for one reason: It’s a lot more expensive. But you can take a simple step that will guarantee you save several hundreds or even up to a thousand in premium dollars…

before you make a commitment to any company, get quotes from at least five places. You might be taken by surprise at the vast differences between insurers. Enjoy the benefit of it and shell out a great deal less for better-quality coverage.

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