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Whole Term Life Insurance

Whole term life insurance has suffered a set back in recent times due to the increasing trend of people opting for short-term life insurance. People today tend to purchase term life insurance mainly because it is cheaper than whole term life insurance. Even though a sound term insurance can take care of most people?s insurance needs, whole term life insurance cannot be ignored as a wise decision.


One major advantage of a whole term life insurance is that the death benefit in such a case is guaranteed to remain level for the entire period of the policy. On giving that some thought you would soon realize that it means it lasts an entire lifetime. That is one guarantee that has to be taken seriously. Another benefit is that the premium of a whole term life insurance policy is guaranteed to never undergo increase. Also another feature that cannot be set aside is that this kind of policy can never be struck off by the insurance company.


A whole life insurance policy also has cash values and that cash is available for you to use in case you should need it, at any point of time. You have the option to surrender your policy and receive the cash that the policy has accumulated. You also can opt to take the cash in a loan form and still keep your policy intact. The accumulating cash values of your policy are tax-deferred. This means that even as your cash is accumulating interest you do not have to pay any taxes on the interest. Your borrowing of cash is also on a tax-free basis. Only when you withdraw the cash do you pay tax. Whole term life insurance with its multi fold benefits should not be simply ignored in the face of short-term life insurance policies.


Term Life Insurance provides detailed information on Term Life Insurance, Affordable Term Life Insurance, Term Life Insurance Company, Term Vs Whole Life Insurance and more. Term Life Insurance is affiliated with Smoker Term Life Insurance Policies.


Source: www.articlesbase.com