Whole Life Insurance Pros and Cons (Video)
Posted by Lenny Robbins on Thu, Dec 29, 2011 @ 03:44 AM
When people think of permanent life insurance, whole life is often at the top of their list. Do you know what a whole life insurance policy is? How it works? To determine if this is the right type of policy for your needs, you should understand whole life insurance pros and cons.
Did you know there are several types of whole life policies? They all build cash value and have different applications. This video will give you the basics of whole life insurance pros and cons.
So now you know a little bit about whole life insurance pros and cons. You may want to consider investigating term life insurance pros and cons and universal life insurance pros and cons. Then you will have a general understanding of all three types of insurance.
If you currently have a whole life policy with cash available, you may want to consider a 1035 tax free exchange. A 1035 exchange allows you to transfer that cash balance to another policy and may be able to save you money, or get you more insurance for the same premium.
The Bottom Line
There are three different types of life insurance: term life, whole life and universal life. Each of them has features specific to the type of insurance. An independent agent can help you determine which type of policy is going to fit your needs and your budget best. Whole life insurance pros and cons can help you learn if this is the right one for you.
