|
Whole life insurance, also known as traditional, straight, or permanent life insurance is a policy that is kept in force for a person's whole life as long as the scheduled premiums are paid.
Whole insurance policies can be a great value because they accrue cash value--you get savings as well as insurance. Some even pay a dividend which depending on how well the insurance is doing. If the company is doing well then the premiums are paid back to the policy holder in the form of dividends. The policy holder can use the dividend to offset his premiums, to purchase more insurance, or to purchase additional term life insurance.
We highly recommend these types of policies but be sure to shop around to find the best investment.
|
