If you love someone, owe someone, or someone depends on you financially, you should have life insurance. If you pass away, life insurance can help protect your loved ones by covering final expenses or estate taxes.
There are a variety of life insurance options. Whole Life policies have the advantage in that they provide lifelong coverage as long as premiums are paid.
But people don’t often talk about the living benefits of Whole Life insurance. For starters, Whole Life insurance provides peace of mind because premiums are guaranteed to stay flat. Whether you pay over a shortened period or over your lifetime, your dues won’t have surprise increases, making it easy to budget your policy’s payments into your expenses.
Whole Life policies are also attractive because they have a cash value component that acts similarly to a low-interest investment. The cash value is guaranteed to grow tax-deferred over time at a particular rate. The cash value can be used as collateral to take out a tax-free policy loan for unexpected expenses, pay premiums, purchase additional coverage or even – in certain cases – to make withdrawals.
If this all sounds attractive, but you’re feeling like you can’t take advantage of the benefits of a Whole Life policy because you’ve tried to obtain life insurance but were turned down because of health or lifestyle issues, think again. There is a Whole Life policy that guarantees acceptance. Whether you smoke, have weight issues, or any other reason, you are guaranteed acceptance. No health exam, no questions, no problem.
You can get a Whole Life policy right from your very own association and its trusted partner AMBA. Joining is easy: you can purchase your policy online and it even includes a no obligation 60-day return policy.