Whole Life Insurance

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The Differences Between Term and Whole Life Insurance

Maybe you’ve heard the adage, “life insurance isn’t for you, it’s for your loved ones.” In the event something does happen to you, you want to take care of your family’s needs. Simple enough. And smart. But deciding how best to provide for your family will likely lead you to the term life insurance or whole life insurance fork in the road. At first glance, the paths will look quite different: Term life insurance is the more straight-forward of the two solutions and less expensive. Whole life insurance (the most common form of cash value or permanent life insurance), on…

Questions to Ask When Considering Life Insurance

People often get nervous about shopping for life insurance because it seems complicated. That’s understandable. Sometimes it seems filing taxes may be easier than figuring insurance costs and policy plans. The good news is that there are a lot of sources for helpful tips out there to get you through the process, so do your research. Here are some essential questions you’ll need to consider: Do I Need a Life Insurance Policy? To start, ask yourself a couple questions. 1) Any chance that you’re going to die someday? 2) If you answered yes, are you single with no debts and no…

Happy 100th Birthday – Outliving Your Life Insurance

You don’t expect to be in your 90s and worried about your life insurance policy. When you chose to take out a permanent policy, you expected it to be … permanent. Term Life Insurance and Whole Life Insurance  Term life insurance provides coverage for a certain time period (usually 10, 20 or 30 years) and is designed to protect your dependents financially in case you die while they’re still reliant on your income – to pay the mortgage, childcare or other essential bills. And permanent (or ‘whole’) insurance is designed to outlast all that. When you take out a term…

September Is Life Insurance Awareness Month, Celebrate.

We are excited to announce that September is Life Insurance Awareness Month. Each September, SelectQuote, along with insurance companies across the country, partners with non-profit organization Life Happens in an industry-wide campaign to educate Americans about the critical importance of life insurance. Over 70 insurance organizations are celebrating Life Insurance Awareness Month this year. To celebrate, SelectQuote will answer the most commonly-asked questions about life insurance throughout September. What is term life insurance? When to consider term life insurance and what are the benefits to you and your family? How much term life insurance coverage do you need and how…

5 Questions About Buying Whole Life Insurance

Whole life insurance may be a pricier option than term life insurance, but that doesn’t necessarily mean you shouldn’t buy it. Unlike a term policy, a whole life insurance policy provides a lifetime of coverage at a level premium – meaning you’ll pay the same monthly or annual rate for the life of the policy. Whole life coverage also accumulates a cash value, which can grow over the life of the policy and receive favorable tax treatment. This means you can borrow against or even cancel your policy for all or part of its cash value while you’re still alive. And…

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