You can get a whole life insurance quote online. You get the premium rates, however, there is a lot more to whole life than simply premium rates. Whole life rates are much higher than term rates as the time the life insurance company is bound to carry the risk is much longer. If you own a whole life policy you can usually keep it up until age 100.
- Guaranteed Cash Value
The life insurance companies compensate somewhat for the higher premiums by including a guaranteed cash value. If you stop you whole life policy there is something to get back. The longer you keep the policy the higher the cash value.
- Life Insurance Dividends
If your policy is a participating policy you get to participate in what is known as a life insurance dividend. If the company operates profitably you may get a dividend in addition to your cash value. Dividends are not guaranteed.
Dividends are paid out in different forms. You can take it in cash each year, you can use it to purchase paid up additions, you can use it to reduce premiums or you can leave it to accumulate interest.
Get your whole life quotes online but keep in mind that there is more to this type of policy than meets the eye.
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