Whole Life Insurance Explained

When looking to have whole life insurance explained in detail you should also ask the question what is universal life insurance. The reason for this is because both whole and universal coverage types are quite similar and can be combined. Whole life insurance is coverage that lasts your entire lifetime. Depending on the policy and company you choose, your premiums may stay the same throughout your life, which means if insured when young and healthy you may be able to lock in very affordable rates.

If you are of advanced age and prefer a whole life policy for a short term such as 15 years, or want to pay cash for the entire whole life policy, many companies can help you do just that. State Farm is just one example of a well-known insurance company who offers this option. In some cases, whole life policies create dividends for the insured. These dividends are not guaranteed but if you do accumulate them they will be paid to you by the insurer. Whole life insurance, unlike term, also offers guaranteed cash benefits based on the specifics of your policy.

Universal life insurance was actually derived from whole life insurance and is similar in many ways. However a universal policy is more flexible when it comes to dividends and investments. Any premium payments above the actual cost are credited as cash to an investment account. Most would say that a universal life policy is a stable and conservative investment vehicle. Variable universal life policies are even more flexible because the policy holder can choose where they want their funds invested and there are more investment options including stocks.

Now that you've seen whole life insurance explained and learned what is universal life insurance, you are better equipped to make a decision regarding your insurance needs. One way to begin the process of obtaining insurance is to shop around for life insurance quotes. The Internet is a great tool because not only are there free life insurance quote providers, there are also calculators to help you figure out how much insurance you need. With all the resources online and available from your insurance company (if you currently have one) you should be able to find the ideal life insurance coverage for you and your family.

 

 

Life Insurance News:

 

Insurer ordered to wind up operations
Ottawa-based insurance company Union of Canada Life Insurance has been ordered by the Ontario Superior Court of Justice to wind up its operations, after it was determined that the company had insufficient capital to ensure its long-term viability...


Colonial Life Survey Shows Personal Benefits Counseling Improves Understanding - MarketWatch (press release)

Colonial Life Survey Shows Personal Benefits Counseling Improves Understanding
MarketWatch (press release)
Latest results of an ongoing post-enrollment survey by Colonial Life & Accident Insurance Company show that 96 percent who take part in individual benefits counseling sessions say they better understand their benefits.(1) These results reflect the .

and more »
..


Life Insurance Options - GovExec.com

Life Insurance Options
GovExec.com
By Tammy Flanagan Last week, we looked at basic coverage options under the Federal Employees Group Life Insurance program. This week, as promised, we'll go over optional coverage. Option A (standard optional insurance) has a $10000 value.

and more »
..


Liberty Life Insurance Company Renamed, Will Now Operate as Athene Annuity
Liberty Life Insurance Company, a retail fixed annuity and reinsurance provider, today announced it had changed its legal name to Athene Annuity & Life Assurance Company and wi..


New China Life Plans $2.4 Billion in Bond Sales - Wall Street Journal

New China Life Plans $2.4 Billion in Bond Sales
Wall Street Journal
SHANGHAIEUR”New China Life Insurance Co. said it plans to raise 15 billion yuan ($2.4 billion) through debt sales, the latest Chinese insurer seeking to shore up its finances. New China Life, which raised about US$1.9 billion in a dual Hong Kong-Shanghai .

and more »
..


Allianz Life Contributes More Than $1.6 Million to Local Charities in 2011 - MarketWatch (press release)

LifeHealthPro
Allianz Life Contributes More Than $1.6 Million to Local Charities in 2011
MarketWatch (press release)
MINNEAPOLIS, Feb 02, 2012 (BUSINESS WIRE) -- Allianz Life Insurance Company of North America (Allianz Life) contributed more than $1.6 million in 2011 to Twin Cities-based nonprofit organizations focused primarily on financial literacy and senior .
Allianz Gives $1.6 Million to Local Charities in 2011LifeHealthPro

all 8 news articles »
..


Allianz Life Contributes More Than $1.6 Million to Local Charities in 2011
Allianz Life Insurance Company of North America contributed more than $1.6 million in 2011 to Twin Cities-based nonprofit organizations focused primarily on financial literacy and senior services...


Liberty Life Insurance Company Renamed, Will Now Operate as Athene Annuity - MarketWatch (press release)

Liberty Life Insurance Company Renamed, Will Now Operate as Athene Annuity
MarketWatch (press release)
GREENVILLE, SC, Feb 01, 2012 (BUSINESS WIRE) -- Liberty Life Insurance Company, a retail fixed annuity and reinsurance provider, today announced it had changed its legal name to Athene Annuity & Life Assurance Company and will operate under the brand .

and more »
..


Union of Canada Life Insurance Policyholders are Protected by Assuris
TORONTO , Feb. 2, 2012 /CNW/ - Today, Union of Canada Life sought court protection under the Winding-up and Restructuring Act (WURA). All policyholders of Union of Canada Life are protected by Assuris, ...


Betty White to Boomers: Consider Life Insurance Policies to Fund Retirement
ATLANTA, Feb. 1, 2012 /PRNewswire/ -- Baby boomers appear to be taking a second look at their life insurance policies as an alternative financial solution to paying for retirement. Retirees can sell an ...


Online Insurance Marketplace Announces an Increase in Searches for Keyword, "Insurance Life Insurance"
Online Insurance Marketplace (OnlineInsuranceMarketPlace.com) Announces an Increase in Searches for Keyword, "Insurance Life Insurance"Los Angeles, CA (PRWEB) February 02, 2012 Online Insurance Marketplace, the premiere site to get a free term life insurance quote, announced today an increase in the search for keyword, "Insurance Life Insurance." The company keeps track of searchable keywords ...


Prudential settles with insurance regulators over life insurance practices
State insurance regulators including New Jerseys Department of Banking and Insurance have finalized a settlement with Prudential Financial over its handling of death benefits from life insurance policies...


Empire Life Launches Loyalty Program to Help Investors Save on Fees
KINGSTON, ONTARIO-- - The Empire Life Insurance Company today announced the launch of the Empire for Life„¢ Loyalty Program. The Program is a way to help investors save on fees while investing in their ...


New China Life Insurance Plans CNY15 Bln Bond Sales - Wall Street Journal

New China Life Insurance Plans CNY15 Bln Bond Sales
Wall Street Journal
SHANGHAI (Dow Jones)--New China Life Insurance Co. (1336.HK) said Thursday it plans to raise CNY15 billion ($2.4 billion) through debt issuance, making it the latest Chinese insurer to undertake a fundraising campaign to shore up its growth prospects.
New China Life plans to issue $2.4 bln of debtReuters
New China Life To Raise 15B YuanCapitalVue
China Pacific Life Expands Rural Individual Life Microinsurance CoverageInsurance News Net (press release)

all 5 news articles »
..


Pennsylvania Protects Life Insurance Beneficiaries in Prudential Settlement
HARRISBURG, Pa., Feb. 2, 2012 /PRNewswire-USNewswire/ -- The Pennsylvania Insurance Department is among seven lead states that today announced a settlement with Prudential Insurance Company of America and some of its affiliates...


MetLife Expands Offerings for Associations and Affinity Members with Enhanced . - MarketWatch (press release)

MetLife Expands Offerings for Associations and Affinity Members with Enhanced .
MarketWatch (press release)
NEW YORK, Feb 02, 2012 (BUSINESS WIRE) -- Members of associations and affinity groups are increasingly looking for value-added benefits from their relationships, including easy and affordable access to insurance products. MetLife, the largest life .

and more »
..

Genworth Financial Swings to a Profit as Mortgage-Insurance Unit Improves - Bloomberg

Genworth Financial Swings to a Profit as Mortgage-Insurance Unit Improves
Bloomberg
(KIX) US Mortgage Business The US mortgage-insurance segment's loss narrowed to $94 million in the fourth quarter from $352 million a year earlier, the company said. US life insurance posted a $114 million profit. EURœFourth-quarter earnings improved from .
Genworth Financial swings to Q4 profit, shares upReuters
Genworth Financial Announces Fourth Quarter 2011 ResultsMarketWatch (press release)
Genworth Financial Turns To Profit In Q4 - Quick FactsNASDAQ
Wall St. Cheat Sheet -BusinessWeek -Fox Business
all 19 news articles »
..


Prudential settles with insurance regulators over life insurance practices - The Star-Ledger - NJ.com

Los Angeles Times
Prudential settles with insurance regulators over life insurance practices
The Star-Ledger - NJ.com
State insurance regulators including New Jersey's Department of Banking and Insurance have reached a settlement with Prudential Financial over its handling of death benefits from life insurance policies. As part of the agreement, the nation's .
Pennsylvania Protects Life Insurance Beneficiaries in Prudential SettlementMarketWatch (press release)
California, other states settle death claim case with PrudentialLos Angeles Times
Prudential Agrees to $17M Unclaimed Property SettlementLifeHealthPro
Sacramento Business Journal -Bloomberg
all 15 news articles »
..


Empire Life Launches Loyalty Program to Help Investors Save on Fees - MarketWatch (press release)

Empire Life Launches Loyalty Program to Help Investors Save on Fees
MarketWatch (press release)
KINGSTON, ONTARIO, Feb 02, 2012 (MARKETWIRE via COMTEX) -- The Empire Life Insurance Company (Empire Life) today announced the launch of the Empire for Life(TM) Loyalty Program. The Program is a way to help investors save on fees while investing in .

and more »
..


MetLife Expands Offerings for Associations and Affinity Members with Enhanced Group Level Term Life Insurance Coverage
Members of associations and affinity groups are increasingly looking for value-added benefits from their relationships, including easy and affordable access to insurance products. MetLife, the largest life insurer in the United States, today announced that it has enhanced its Group Level Term Life Insurance portfolio for association and affinity groups...


Google
 

Technorati Tags: , ,