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Types of Whole Life Insurance: A Complete Guide (2024)

There are two basic forms of life insurance; term life and whole life insurance. Term life policies are active for a defined duration of 1 to 30 years. They pay off a specific amount if the insured dies within the duration that is defined (the Term). Whole life insurance is active for the insured's entire life-span, unless the policy is closed or canceled. Term life is usually used to make sure that… Continue Reading

Best Life Insurance for a Child’s Father in 2024 (Top 10 Companies)

Life insurance is important for the future of a child, to make sure that life goals can be met without undue financial hardship. Even if the parents do not live in the same home, having life insurance policies to protect the interests of the child are important, and if one party will not take the responsibility of getting a policy, the other parent may be able to take out a policy on… Continue Reading

Reasons To Switch From Whole Life Insurance to Term Life Insurance (2024)

Many people make the assumption that all life insurance types are the same. They know that if they die with an active insurance policy, then that policy will pay out. This is true; both whole life and term life insurance will pay out if the insured party passes away during the lifetime of the loan. Since both types pay out, why would anyone want to switch from a term policy to a… Continue Reading

Mortgage Life Insurance vs. Term Life Insurance: Which coverage is right for you? (2024)

Mortgage insurance is a special type of policy that pays off your mortgage if you die. In most cases, mortgage life insurance pays directly to the mortgage lender, which means the policy has a diminishing payout over the course of the mortgage. For some people, mortgage life insurance may be available in situations where other types of insurance are not, making mortgage life insurance more accessible to a broad range of needs. Continue Reading
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Whole Life Insurance Quote

There are several types of life insurance policies available to those looking to look after their family in the event of their death. The main benefit of a whole life policy is that the payout is guaranteed. Whole life insurance quotes are usually higher than those for a term policy, but comes with several benefits such as the fact that you will be guaranteed a payment, it relieves any worry of not being insurable as you age, you can borrow against the policy and if you cancel your whole life policy, you are entitled to be paid the cash value of that policy and it can be useful in estate planning.

Whole life insurance coverage can be utilized as an investment vehicle since future value is guaranteed and a portion of your premiums get placed into an tax-deferred cash value account. Before purchasing a policy, you should consult with a financial advisor to better understand the costs and benefits of whole life insurance.

To learn more about whole life policies and to receive a free whole life insurance quote, complete a quote request form and you’ll be matched with knowledgeable life insurance agents that can help answer any questions you may have.

Term Life Insurance Quotes

Term life insurance, as opposed to whole life, insures you for a finite period of time. This insurance, sometimes referred to as “temporary” insurance, is typically sold to portect you for 10, 15, 20 or 30 years with 20 years being the most common. Generally, term life insurance provides the best bang for the buck protection compared to other types of policies and makes the most sense if you’re looking to ensure your family is protected in the event of your death. Unlike whole life insurance, a term policy does not accumulate any sort of cash value and any premiums paid are strictly used for the cost related to the coverage.

Determining the amount of life insurance you should purchase is an inexact science. However, using a life insurance calculator or simply multiplying your yearly income are two ways of getting a quick idea. The best method is to speak with an experienced life insurance professional who can help you determine how much life insurance is right for you to meet any financial obligations you or your loved ones may have if you die unexpectedly.

Whether you’re looking for whole life insurance quotes or term life insurance quotes, be sure to research all of your options. Compare life insurance quotes from several agents and ensure that your select a company that gives you low rates but also has the financial stability to pay for the policy when it comes time to collect. Getting free life insurance quotes from US Insurance Agents is the first step in protecting your loved ones. Complete a quote request and get in touch with an agent today.