Insurance > Whole Life Insurance Explanation

Whole Life Insurance Explanation

by: Donald Lusan

A whole life insurance explanation should be required reading for anyone about to purchase life insurance. Whole life, in my humble opinion, has in recent years got a bad rap. People tend to buy term life insurance because it is cheaper. Although I believe that a good term insurance can take care of the insurance needs of most people, a good whole life insurance policy is worth looking at.

Guaranteed Death Benefit

The death benefit of a whole life insurance policy is guaranteed to stay level for the duration of the policy. If you think about it, that means a lifetime. That type of guarantee cannot be sneezed at. The premiums of your whole life insurance policy is also guaranteed never to increase. This is also a very important feature. The policy can never be cancelled by the insurance company.

Cash Value Accumulation

A whole life insurance policy has cash values, that cash available to you,if you should need it, at any time. You can surrender your policy and get the cash that the policy has accumulated, or you can take the cash in the form of a loan and still keep your policy. The cash values of your policy accumulate tax-deferred, which means that while the cash is accumulating interest you pay no taxes on the interest. Whenever you take out the cash you pay the taxes then. You also borrow on a tax free basis.

Dividends

As most whole life insurance policies are participating policies you earn dividends on your policy. Each year the life insurance company declares a dividend, a portion of which goes to policy owners who own a whole life policy. You can take your dividend in cash, the company will send you a check each year, you can leave the dividend to accumulate interest, or you can elect to purchase paid up additions with your dividends. Paid up additions are single premium policies of the same type, that is whole life insurance.

Waiver Of Premium Disability Rider

You can add a waiver of premium rider to your policy, which states, in a nutshell, that if you should become disabled, anytime after six months of disability, the life insurance company will pay the premiums for you. It does not matter how long you are disabled, they will pay the premiums even if it is for the rest of your life.

Accidental Death Benefit

To your whole life policy, you can add an accidental death benefit rider which states that if you should die in an accident the insurance company will pay your benefit twice the amount of life insurance you applied for.

There are a myriad of other benefits to the whole life insurance policy click the link below to get the details.

About The Author

Donald Lusan

For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and best life insurance companies in the United States as well as Canada. His advice is invaluable. Donald's website is: http://www.lifeinsurancehub.net.

Looking After Your Pet?s Health

by: Joseph Kenny

Animal lovers have been saying it for years, but animals, especially pets, are people too! While this is usually meant as a joke, there are elements of truth in it. Many people consider their pet to be a member of the family, and especially for children, the companionship of a loved pet can be something they?ll remember and cherish for their whole life.

That is why there are some things that you should think about for your pet. Obviously you will want it to be happy, and you should therefore make sure that you are feeding it well, with nutritious and healthy food. This doesn?t mean going overboard and giving your dog steak every day, but there are plenty of good quality pet food brands on the market and if you choose one of these it should keep your pet happy and healthy.

Another thing you may wish to give consideration to is housing and space. Make sure you have enough space for the pet...

Looking After Your Pet?s Health

Insurance > Looking After Your Pet?s Health

Fear Of Flying

Fear Of Flying

by: Joseph Kenny

There are a few fears in life that defy logic. Fear of spiders may be one, fear of lifts is another, and perhaps a fear of flying is another. Everyday, thousands of planes take off around the world, carrying millions of passengers safely to their destination. Flying is one of the safest, if not the safest, form of travel available. It is far safer than getting in the car, yet over one third of the population still report a fear of flying.

People cite many concerns when they talk of their fear of flying. Many report a lack of confidence in the air traffic control system and fear that a simple mistake on the ground can lead to disaster in the air. Then there are fears of faults with the plane itself. Most people saw the pictures of the concord crash a few years ago and when you?re sitting on an airplane, a few feet from the massive jet engines humming steadily, it seems very hard to believe that nothing could go...

Fear Of Flying

Insurance > Fear Of Flying

Do I Need Renter's Insurance?

by: Dan The Roommate Man

If you are moving into an apartment you may want to consider investing in insurance. Along with the first month's rent, chances are you will be asked to pay a security deposit. This is a type of insurance for your landlord. The landlord can use this deposit to pay for any damages caused during your residency. For you, security comes in the form of renter's insurance.

Most renters use the homeowner's form of insurance known as the HO4 policy. This policy will typically cover furniture, clothing, and most personal property in the event of fire or smoke, lightning, vandalism, theft, explosion, windstorm, or water damage from plumbing. In most cases, the insurance company will take your word for what you think your property is worth. However, if you're wanting to insure your jewelry, art pieces or other collected items, you might need to pay extra for what's called a "Scheduled Personal Property...

Do I Need Renter's Insurance?

Insurance > Do I Need Renter's Insurance?

Where To Find Cheap Health Insurance

Where To Find Cheap Health Insurance

by: Bob Hett

Health insurance costs are rising all the time. Many people feel they cannot afford health insurance. Others feel that they don?t need it because they are healthy and have never had any major medical problems. This is definitely faulty thinking on their part. As a matter of fact, you do need health insurance, and there are a lot of ways to get affordable health insurance for yourself or your family. Health insurance is protection against the possible health problems that could happen in the future, and you have absolutely no way of knowing what those might be.

For people who are low income, every state has a Medicaid program that they could possible qualify for. The requirements vary form state to state, but all it takes is a trip to your local Division of Family Services office to get an application. You might be surprised at the number of people who would actually qualify for this service that...

Where To Find Cheap Health Insurance

Insurance > Where To Find Cheap Health Insurance

Car Insurance - How Can You Lower Your Premiums?

by: Michael Challiner

Many factors influence the premium for your Motor insurance policy. Your insurer will have asked you many questions whilst producing your quote - some of which will affect your premium and some will not. Below we discuss the key variables that are within the policyholder's control.

Consolidating policies

By insuring a number of vehicles with the same insurer, or by trying to take out home and life insurance through your car insurer, you may be able to secure a ?bulk buy? discount.

Location

A big influence on the cost of your car insurance is where you live. The chance of your car being broken into or stolen is a key concern for the insurer. More urban areas traditionally facing greater risk of theft and therefore tend to be more expensive than countryside locations.

Excess

By agreeing to pay a greater excess on each claim you can reduce your car...

Car Insurance - How Can You Lower Your Premiums?

Insurance > Car Insurance - How Can You Lower Your Premiums?

5 Top Things Baby Boomers Must Do Before Starting a Home Based Business

5 Top Things Baby Boomers Must Do Before Starting a Home Based Business

by: Patty Gale

Don't quit your day job just yet.If you are a baby boomer looking to start a home business, there are 5 essentials things you must do first.

Leaving the security of a job with an established 401(k) plan, health insurance or other benefits can create a real tug of war for baby boomers who want to pursue their dreams of owning their own business.

Analyze Your Exit Strategy

At the time of this writing, the youngest of the baby boomers are turning 42 and the oldest are turning 60.
No matter where you fall into this group, analyzing and preparing your exit strategy from your job will be crucial to your long-term success as a home business entrepreneur.
Do you have adequate savings?
If you're married, will you be able to participate in your spouse's health insurance?

Create a Financial Plan

How much is your salary...

5 Top Things Baby Boomers Must Do Before Starting a Home Based Business

Insurance > 5 Top Things Baby Boomers Must Do Before Starting a Home Based Business

Car Insurance Pricing Plans

Car Insurance Pricing Plans

by: Joseph Kenny

The law requires liability insurance for all drivers and vehicles. This means that if you are involved in a serious accident, and it turns out that it was your fault, your insurance company will pay out any claims that are made against you. Extra coverage on your own vehicle, called comprehensive insurance, is optional.

Insurance companies based on a number of risk factors will calculate the price you pay for this insurance. Basically how it works is the more they feel you are at risk of crashing, and the more they think the resulting crash will cost them, the higher the premium you?ll pay.

Assessment

Common factors that will be used to assess the premium are the value of the car you?re driving, the safety of that vehicle, the coverage you want, will there be deductibles or limits etc.? How much you?ll drive the car, how your driving record stands, how long you?ve held your license...

Car Insurance Pricing Plans

Insurance > Car Insurance Pricing Plans

How To Change Auto Insurance Companies

How To Change Auto Insurance Companies

by: Matt McWilliams

Changing Auto Insurance Companies May be Easier Than you Think!

There are many reasons why you may choose to change your auto insurance coverage to another company. Perhaps you?ve found another company that offers you the same amount of coverage for considerably less money. You might have changed jobs and are eligible for a group discount through another insurer, or maybe you?re unhappy with the service that your present company provides. With the growth of the internet and quote comparison sites, investigating your options has never been easier!

Why change to a new Auto insurance carrier?

You need to regularly review your auto insurance coverage to make sure that you are receiving the best insurance value for your money. You will discover that it pays to shop around. In some states, premiums for identical policies vary widely among different auto insurance companies. The...

How To Change Auto Insurance Companies

Insurance > How To Change Auto Insurance Companies

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