Comments on: Whole Life Insurance – A Powerful Savings Vehicle With The Life Time Of Protection http://www.beamalife.com/blog/life-insurance/whole-life-insurance-a-powerful-savings-vehicle/ Risk Management | Wealth Creation | Tax Advantage Thu, 01 Jul 2010 11:23:01 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Denise Mancini http://www.beamalife.com/blog/life-insurance/whole-life-insurance-a-powerful-savings-vehicle/comment-page-1/#comment-460 Denise Mancini Tue, 03 Nov 2009 21:26:25 +0000 http://blog.beamalife.com/?p=16#comment-460 If you have decided on a permanent life insurance policy against a term life one, you must be informed about the variations available such as universal, whole and variable life insurance. All three offer coverage for your entire life and in all policies have an investment element that builds cash value in addition to the death benefits. As long as the premiums are paid, this cash element that can be redeemed through surrenders or policy loans. A universal life insurance allows the policy holder more flexibility as it differentiates between the three elements of the policy (the death benefits, the cash value component and the expense element). The premium or face amount can be modified later on depending on the needs or requirements at the time. Variable life insurance is the most expensive insurance available in today’s market. In this type of policy, the insurer can control the investment component in terms of stocks, funds and bonds and thus bring in higher returns than most other policies. That said, the risks inherent in such a type of policy are also much higher and unless you are absolutely confident about your investment skills and have sound knowledge of the market, this option is not really recommended. Denise at AccuQuote Disclaimer: I work for AccuQuote and this is my personal opinion. If you have decided on a permanent life insurance policy against a term life one, you must be informed about the variations available such as universal, whole and variable life insurance. All three offer coverage for your entire life and in all policies have an investment element that builds cash value in addition to the death benefits. As long as the premiums are paid, this cash element that can be redeemed through surrenders or policy loans. A universal life insurance allows the policy holder more flexibility as it differentiates between the three elements of the policy (the death benefits, the cash value component and the expense element). The premium or face amount can be modified later on depending on the needs or requirements at the time. Variable life insurance is the most expensive insurance available in today’s market. In this type of policy, the insurer can control the investment component in terms of stocks, funds and bonds and thus bring in higher returns than most other policies. That said, the risks inherent in such a type of policy are also much higher and unless you are absolutely confident about your investment skills and have sound knowledge of the market, this option is not really recommended.

Denise at AccuQuote
Disclaimer: I work for AccuQuote and this is my personal opinion.

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