The Benefit of a Whole Life Insurance Policy
2/15/2012 10:30:00 AM
Many single and young adults do not think they need CA life insurance. Without a spouse, children, or other dependents, what is the purpose of paying for a death benefit? By purchasing a whole life insurance policy, you can get more for your premiums.
“Whole life” is a type of life insurance coverage that combines the death benefit of typical life insurance with the ability to borrow against the cash value as it increases to a meaningful amount. The chances are that you may marry and have a family, and when you do you might be pleased that you took out your policy some years earlier as the cash value will have begun to build and may be available at a later stage in life when you need it most.
Another great thing about whole life insurance is that it can last from the moment of purchase until your death, no matter how many years elapse between. Term life, a common type of life coverage, lasts a specific amount of time and if you live through it, all that money you paid in no longer holds a benefit for you. With whole life, you can continue to pay in, no matter how your health changes, and know that your loved ones should be taken care of after your demise.
No matter if you are young, old, healthy, or ill, you should obtain some level of CA life insurance. Not sure if whole life is right for you? Contact one of our agents to discuss the options available in life insurance.
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“Whole life” is a type of life insurance coverage that combines the death benefit of typical life insurance with the ability to borrow against the cash value as it increases to a meaningful amount. The chances are that you may marry and have a family, and when you do you might be pleased that you took out your policy some years earlier as the cash value will have begun to build and may be available at a later stage in life when you need it most.
Another great thing about whole life insurance is that it can last from the moment of purchase until your death, no matter how many years elapse between. Term life, a common type of life coverage, lasts a specific amount of time and if you live through it, all that money you paid in no longer holds a benefit for you. With whole life, you can continue to pay in, no matter how your health changes, and know that your loved ones should be taken care of after your demise.
No matter if you are young, old, healthy, or ill, you should obtain some level of CA life insurance. Not sure if whole life is right for you? Contact one of our agents to discuss the options available in life insurance.
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