Posted on Saturday, 23rd January 2010 by jkibler
Read this and be sure to do life insurance comparisons before you buy any life insurance policy.
Life insurance is something that should be reviewed every year to make sure you’re properly insured as your needs and the needs of your family are constantly evolving.
Or, if you are entering the life insurance market for the first time there are some basic things you need to know in order to compare the different types of policies available.
Let’s look at the differences in the types of life insurance that are available.
Number 1. Term life policy is a fixed death benefit with no cash value at the end of the term and the premiums can be level, increasing or decreasing.
Number 2. Whole life policy. There is some flexibility in the death benefit and there is a cash value which will equal the sum of the premiums at generally about the 15 year mark and the premiums stay the same.
Number 3. Universal life policy. The death benefit is very flexible, the cash value is guaranteed and the premium can be flexible depending on how much money you want to invest in the policy.
Number 4. Variable universal life policy. The death benefit is variable and adjustable with no guarantee of the cash value and the premium is flexible.
Number 5. Variable whole life policy. The death benefit his variable, with no guarantee of the cash value and the premiums are fixed.
Take a look and compare these five types of life insurance and make a decision which one is the best for you and your family.
Jimmy says every family situation is different and only you can determine what is best for you.
Whoa Jimmy?
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Learning how to do life insurance comparisons is very important and if you have any suggestions please share with our readers in the comments.
Tags: Life insurance
Posted in Saving Money On Life Insurance | Comments (4)
January 23rd, 2010 at 7:29 pm
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February 9th, 2010 at 7:17 am
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February 9th, 2010 at 7:23 am
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February 12th, 2010 at 1:42 pm
[...] be sure to do life insurance comparisons [...]