Whole Life Insurance
Millions of Americans each year wisely choose to invest in the protection of life insurance. But how much do you really know about life insurance? Do you know what different types of life insurance are available? Are you and your family protected by life insurance? At Insurance Hub, we believe everyone deserves to understand all that life insurance has to offer. Here are some important facts about whole life insurance every American should know.
- Whole life insurance (also referred to as “straight life insurance” or “ordinary life insurance”) is life insurance which is guaranteed to remain in effect throughout the entirety of the policyholder’s life – as long as premiums are consistently paid.
- Whole life insurance features fixed premiums.
- Whole life insurance is designed to build tax-deferred cash value.
- Whole life insurance offers a guaranteed ceiling on mortality and expense charges as well as a guaranteed floor on interest credited to cash values.
- The death benefit of whole life insurance is most often not subject to federal income taxes.
- Whole life insurance policies may be used by policyholders as loan collateral, security, or estate planning.
- Whole life insurance is generally chosen by those with the need for lifelong, permanent insurance. It provides excellent security for individuals seeking guaranteed long-term coverage and retirement planning.
- There are a wide variety of traditional whole life policies available, including non-participating whole life insurance, participating whole life insurance, level premium whole life insurance, limited payment whole life insurance, single premium whole life insurance, and indeterminate premium whole life insurance.
At Insurance Hub, we are committed to our clients. Our hand-picked team of agents and advisors are ready and waiting to assist you with all your insurance needs and questions. Whether you’re looking for whole life insurance plans or any other type of insurance, Insurance Hub has just what you’re looking for. For more information regarding whole life insurance and other insurance coverage contact one of our advisors today.
FL Whole Life Insurance | Florida Annuities
