Affordable Life Insurance Protection for Your Family
What is Life Insurance Permanent Whole Life?
It’s one of the two basic types of life insurance that include Term and Permanent.
Permanent whole life is life insurance protection that provides coverage for your entire life. You pay a premium each month or year to the insurance company, and in return, the insurance company promises to pay a death benefit to the person(s) (beneficiary) you choose to receive the benefit, when you pass away.
Permanent life insurance policies usually have the following features:
Why choose permanent whole life coverage?
Whole life insurance may be a good idea if you want to guarantee that you have life insurance for your entire lifetime.
Or, if you want to make sure your premiums remain the same throughout your life.
Or, if you may wish to borrow money from your life insurance plan some day, as an option just in case you may need the money.
Many people choose whole life plans because they either want to provide for their funeral, burial and final expenses, or help provide funds for their estate taxes, or just to leave money for their family members to use as they see fit.
How much does permanent life insurance cost?
The price you pay for a whole life insurance policy will depend on several risk factors, including your age, gender, health, family health history, occupation, hobbies, lifestyle, if you smoke or not, driving record, height-to-weight ratio, etc.
These risk factors are considered in developing the rate you are charged for your life insurance policy.
Basically, the higher the amount of life insurance coverage you need, the higher your premium.
Also, the younger you are when buying your policy, the lower your premium, because you are expected to live longer.
Do I have to take a medical examination?
Whether or not you have to take a medical exam will depend on your age, health, and the amount of life insurance you need, as well as, the underwriting requirements of the life insurance company.
What is single premium whole life insurance?
Single premium whole life insurance is a type of permanent life insurance that provides lifetime coverage, but you pay only one premium when you start your policy, and no further payments are required.
Whole Life Insurance Quotes
Top Pick – United of Omaha
United of Omaha offers guaranteed acceptance whole life insurance for people age 45 to 85. Choose $3,000 up to $25,000 of coverage. Rates start as low as $8.80 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply online now. START HERE to get a FREE Quote.