Why Compare Life Insurance Rates?
Why Compare Life Insurance Quotes and Companies?
About Comparing Life Insurance
If you need life insurance, or if you already have an older life insurance policy, you really should take some time to compare life insurance rates every once in awhile. You may think that all coverage will be the same, or that you can never get better rates because you are older. However, let me point out a couple of reasons you need to do a life insurance rate check up every once in awhile.
Universal Life Insurance Explained
What is Universal Life Insurance?
Universal life is the newest form of life insurance and it is also a form of permanent life insurance, like whole life. But it is both more complex, and more transparent than whole life. It is also the most flexible form of life insurance because you can adjust your premiums, and even your coverage amount!
- Permanent Life Insurance – You will have coverage as long as the policy is kept in force. Keeping a policy in force usually means that premiums are paid, or the policy is paid up.
What Is Whole Life Insurance?
Define Whole Life Insurance
- Permanent Life Insurance – The policy will cover you as long as it is kept in force. (Paid for or paid up). Term life insurance policies expire after a set period of time.
- Premiums and Death Benefits are Fixed over the life of the policy.
- Life Insurance Cash Value can be accumulated over time which can be borrowed against or cashed in. Part of the premium pays for insurance, but the rest can build up the cash value which can also earn interest or dividends. Some people think of whole life as a combination of insurance and savings.
