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The proceeds of many whole life insurance policies can be used to ease the financial burden of serious illness, terminal illness, or long-term care. These accelerated benefits may be offered as part of the basic policy or as a rider to the policy. Some of the characteristics of whole life insurance are:
- Level premiums do not increase with age
- Level death benefit up to age 100
- Guaranteed value
- Relatively high degree of safety
- Builds cash value
This type of policy also never has to be renewed or converted. In other words if anything happens to your health for the rest of your life the insurance company will not change your premium on you.
When our sales people say that they have different products to tailor to the owners needs, it is true! Some whole life policies require premium payments throughout the owner's lifetime while others asked for over a set time period.
| Different types of Permanent products. |
Whole Life Insurance
Survivorship Life Insurance
Joint Whole Life Insurance
Universal Life Insurance
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