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Whole life insurance is an everlasting life insurance, which covers your entire life with timely premium payments as long as you live and the amount of guaranteed cash values provide money to help during emergencies or impermanent needs.
Features of Whole Life Insurance:
1. Premiums generally are level and payable for life: In the starting premiums will be little advanced than a term life insurance. But as you go elder the less expensive will be your annual premiums.
2. Dividends: Dividends are not guaranteed with whole life insurance but there is a possibility of earning dividends.
3. Guaranteed Cash Values: There are no cash values in case of term life insurance. But with whole life insurance some money will be stored as cash values. But if you give up the policy, guaranteed cash values that are hoarded would be yours.
posted by renaa
@ 2:56 PM
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