It really depends on your situation, and your reason for needing life insurance protection.

Term life insurance is better for short term life insurance needs, lasting for a period of 30 years or less.

While whole life is better suited for people who need life insurance to last their entire lifetime, no matter how long they live.

Term life is death benefit coverage only, providing a death benefit, but it does not build any cash value inside the policy.

Whole whole life provides a death benefit and...
Continue reading ...

Is there whole life insurance available to senior citizens?

Yes. There are even guaranteed issue whole life insurance policies available for seniors with health issues.

Whole life insurance provides guaranteed lifetime protection to last your entire life.

It provides a death benefit and builds cash value from which you may take a loan.

With whole life insurance, you have benefits that remain level, and the premiums stay the same each month (or year).

Learn more about how to get senior citizen whol...

Continue reading ...

Yes, there are whole life insurance plans, also known as, permanent life insurance policies, offered to senior citizens.

These permanent insurance plans provide guaranteed lifetime protection as long as the premiums are paid on time.

They provide a death benefit payout upon the passing of the insured person. These whole life plans also build up cash value inside the policy over time, which is available as a loan if needed.

Your premiums remain level, and your coverage does not expire. The amount...

Continue reading ...

Is it possible to buy life insurance that provides $5,000 of coverage?

Yes, these are smaller life insurance policies available, and they are usually offered to help provide funds for final expenses, including the cost of a funeral and a burial.

These life insurance plans are permanent life insurance policies that build cash value and provide a death benefit.

Usually, smaller life insurance plans are offered to seniors between the ages of 45 to 85 with guaranteed acceptance, which means you can'...

Continue reading ...

Is there whole life insurance protection available for 76 year olds?

Yes, there are whole life insurance policies a 76 year old can purchase without having to take any physical examination, or answer any health questions.

These are referred to as Guaranteed Approval whole life insurance policies and they guarantee your acceptance for coverage, even if you have a pre-existing health condition.

These plans usually offer a limited amount of life insurance coverage, up to $25,000.

With guaranteed iss...

Continue reading ...

Can people age 75 and over get whole life insurance coverage?

Yes, in fact, you may be able to get whole life insurance plans up to age 85 through some insurance companies.

However, most life insurance policies offered at that age are guaranteed issue, which means you cannot be turned down for coverage due to any health problems.

And, guaranteed plans do not require you to take a health exam, or answer any questions about your health.

However, these guaranteed issue whole life insurance plans usu...
Continue reading ...

Easy issue whole life insurance is a way to get lifetime life insurance protection without the hassles of having to go through a physical examination.

With easy-issue plans you don't have to take a medical exam, or give blood or urine to be tested by a lab.

In fact, some insurers offer guaranteed approval whole life policies which means no exam, no health questions asked, and you cannot be turned down due to any pre-existing health condition.

However, with guaranteed issue policies you have to m...
Continue reading ...

If you're shopping for a life insurance plan you may have heard about term insurance and whole life insurance, and wondered what is the difference?

Well, there are several important differences about the two basic types of life insurance: Term and Whole Life:

• Price
  
• Duration of Coverage
  
• Cash Value
  

To start, term life costs a lot less than whole life insurance because it is temporary, lasting for 30 years or less. Usually, whole life may cost up to 2-3 times more than the same amount of term life in...
Continue reading ...

I need life insurance but I'm not really sure which type to buy.

When choosing the right type of life insurance you'll want to consider your budget, how much insurance you need and for what period of time.

However, the most important question may be How long do I need life insurance protection to accomplish my goals?

Sine term insurance is temporary, if you need life insurance for a duration of 30 years or less, term life insurance will provide you with the most affordable option.

If you need lif...
Continue reading ...

Yes, there are whole life or permanent life insurance policies available for senior citizens that provide lifetime protection.

However, your approval for a policy may depend on your age and health.

If you have health issues or you are over 75, you can get guaranteed approval life insurance if you have any difficulty qualifying for regular whole life insurance coverage.

With guaranteed life insurance there is no health exam required and there are no questions asked about your health. You are gua...
Continue reading ...

That depends on the type of life insurance policy you have.

There's term life insurance and permanent life insurance.

Term life ends when:

1. You stop paying the premiums for your coverage, or 

2. The "term" of your policy expires, or

3. You die during the "term" of your policy, then a death benefit is paid out to your beneficiary.

Permanent life insurance ends when:

1. You Stop paying your premiums, or

2. You die and the death benefit is paid out to your beneficiary.

Learn more about permanent (whole...
Continue reading ...

Term life is sometimes referred to as "temporary" life insurance because your coverage lasts for a specific period of time, it is not permanent.

Just like your auto or home insurance, term life is for a specific period of time. Most term life plans offer you the option of choosing your life insurance protection for a period (term) of 10, 15, 20 or 30 years. 

With a level term life insurance policy you would pay the same premium each year (or month), while the amount of life insurance you have r...
Continue reading ...

What is no physical whole life insurance?

It's a lifetime life insurance policy that does not require you to take any health exam to purchase the coverage.

Whole life insurance provides life insurance for your entire lifetime and your premium never increases, so you pay the same price each month or year, for as long as you live. As long as you keep paying your premiums, your whole life insurance remains in force.

No physical whole life means you don't have to take any physical exam or testing to...
Continue reading ...

Is there whole life insurance for kids?

Yes, there are life insurance companies including Globe Life and Gerber Life which offer whole life plans for children.

How does kids whole life insurance work?

It's a life insurance policy you buy on the life of your child, who would be the insured. You, the parent, pay the premiums until your child becomes an adult, and you can transfer ownership of the life insurance policy to your child who would then continue to pay the premiums.

How much life insuranc...
Continue reading ...

What are the advantages and disadvantages of a whole life insurance policy?

Since whole life insurance is coverage that provides guaranteed protection your entire lifetime, it will cost more than a term life insurance policy which provides coverage for up to 30 years.

The advantages of whole life insurance include:

1. Guaranteed lifetime protection.

2. Builds can value inside the policy.

3. You may take a loan form the cash value.


The disadvantages of whole life insurance include:

1. It may cost 2 t...
Continue reading ...

Whole life insurance coverage is a type of life insurance policy that provides you with guaranteed lifetime protection and builds cash value inside the policy over time from which you may take a loan.

Regular whole life insurance policies provide you with full coverage immediately,m from the first day you are insured.

However, some whole life insurance policies; such as, guaranteed issue whole life insurance, provides limited death benefits the first 2 or 30 years you are insured under the poli...
Continue reading ...

Yes, there are life insurance carriers that offer whole life insurance plans without requiring the applicant to take a health exam.

However, the amount of coverage available may be limited based on your age and health.

Some carriers offer single premium whole life insurance with no exam but the minimum premium may be a one-time payment of $10,000.

In addition, there no exam whole life insurance plans with guaranteed acceptance for people age 45 to 85. These plans are often used as a means of pro...
Continue reading ...

If you need a large amount of life insurance coverage for period of 30 years or less, Term life is more cost effective, at least in the short run, than Whole Life insurance.

While Whole Life builds up cash values inside the policy over time that can make it come out ahead of term life in the end, not everyone can afford the amount of life insurance coverage they need in a permanent life insurance policy.

Sometimes taking a combination of Term Life and Whole Life can be helpfu...

Continue reading ...

What is children's whole life insurance?

It's a life insurance policy for children that provides guaranteed lifetime protection as long as the premiums are paid.

Your child's life insurance policy will build cash value over time inside the policy from which your child may take a loan if needed.

In addition, the rate charged for your child's life insurance policy will never increase. And, most plans offer the option of increasing the amount of life insurance at age 18 or 21 without having to take...
Continue reading ...

A guaranteed whole life insurance policy is life insurance that is guaranteed issue, and provides guaranteed lifetime protection.

A guaranteed issue life insurance policy offers a small amount of life insurance, usually up to $20,000 with limited requirements. So, there's usually no health exam required and there may be no health questions asked, depending on the life insurance company and plan.

And, if you meet the age requirements, you are guaranteed to be approved for coverage. 

For instance,...
Continue reading ...

When people that you love will suffer financially if you were to die, you may have a need for life insurance protection.

If that need will remain for many years, perhaps even your entire lifetime, you need permanent life insurance.

The most popular form of permanent insurance is whole life insurance coverage. It provides that the life insurance company will pay a fixed amount (death benefit) when you die, regardless of when that occurs. In exchange you are required to pay a p...

Continue reading ...

A whole life insurance policy may cost you anywhere from $10 or $15 per month to hundreds of dollars per month, or more.

The rate you pay for a whole life insurance policy will depend on your age and the amount of life insurance. For instance, a whole life insurance plan for a child may start for as little as a few dollars per month.

However, a larger whole life insurance policy for an adult may costs quote a bit more.

Since whole life provides lifetime coverage and may build cash value inside t...
Continue reading ...

Can I buy whole life insurance without taking any health exams?

Yes, there are whole life insurance plans available with no exam needed.

In fact, some plans offer up to $400,000 of whole life insurance with no exam, while others are for seniors and provide up to $20,000 of coverage without any exam required, and offer guaranteed acceptance. 

Keep in mind, life insurance with no exam has higher rates than if you applied for a policy that does require a medical exam.

However, if you do qualify, you...
Continue reading ...

Yes, you may be able to take a loan out from your whole life insurance policy.

It usually takes several years before your whole life policy builds up some cash value.

You may be able to take up to 80% of the cash value as a loan, depending on the insurance company regulations for loans.

If you do not pay back the loan there may be taxes to be paid on your loan. Also, if the loan amount is not repaid, it may affect the amount of life insurance provided by your whole life policy.


Continue reading ...

Is term life insurance better or whole life?

The answer depends on your own personal needs and situation.

Term life insurance may be a good idea if you are on a budget, need the most life insurance for your money, or need life insurance for 30 years or less.

Whole life insurance may be a good idea if you really need lifetime protection that will not end, or you want to build up cash value inside your policy over time, in addition to having life insurance.

Term life is temporary and provides pure ...
Continue reading ...

There are many good reasons to purchase a whole life insurance policy.

For instance, many parents purchase whole life insurance for their young children. That way, the price is locked--in at that low rate for the child's entire life, and many life insurance companies will offer the opportunity to increase that coverage amount without any health questions.

Another reason to buy whole life insurance is that the policy doesn't end, so there is no way that you can outlive your lif...

Continue reading ...

I don't believe whole life insurance is a true investment, but it can provide financial benefit for your children as they grow up.

For a child, it may be a good financial tool in some ways.

Child whole life insurance plans may guarantee that for the life of that child, they will always have life insurance protection, so long as the life insurance premiums are paid.

Your child will not have to worry about ever becoming uninsurable, such as with diabetes or obesity, or heart pro...

Continue reading ...

A whole life insurance policy can be a good investment for some people.

Life insurance creates cash upon the death of the insured person, and whole life insurance is designed to be "In Force" your entire lifetime, until you die, not if you die within a specified term or period of time.

From an estate planning point of view, that is a good thing, since it is guaranteed your beneficiary will receive the death benefit from your whole life insurance policy.

If you need life insu...

Continue reading ...

Yes, there are times when buying a whole life insurance policy may make sense for you.

However, it depends on you and your personal life insurance needs - what you want your life insurance coverage to accomplish.

For instance, if you need life insurance to provide funds to help pay for your burial and funeral expenses, you may want to consider buying a whole life insurance policy.

Why choose whole life insurance? Be whole life insurance provides you with lifetime life insurance protection.

Whole ...
Continue reading ...

How much whole life insurance can I buy without taking any physical exam?

That depends on the insurance company, and your age and health.

Some insurers like Colonial Penn, Mutual of Omaha, and AARP/NewYork Life offer small permanent life insurance plans for seniors with no exam required.

However, there is a new single premium whole life insurance plan available for people ages 40 to 80. It offers you the chance to purchase a whole life insurance policy online starting today with no health exam r...
Continue reading ...

Whether or not whole life insurance is recommended for you really depends on what you need the insurance to do - what your goal is for your life insurance?

If you are looking for life insurance protection only to cover you for a short period of time, then perhaps a term life insurance policy would make more sense, since it offers low cost life insurance coverage for a period of up to 30 years.

If you are looking to create a tax-free legacy for your children or spouse, cover f...

Continue reading ...

What is single premium whole life insurance?

It's life insurance that provides lifetime coverage, builds can value inside the policy, and you pay only one premium when you start your life insurance policy - there is no further payment.

Today, you may be able to start up to $400,000 of whole life insurance protection for your family without having to take any health examination. People age 40 to 80 may qualify for a policy.

Although the minimum premium for your single premium whole life plan may ...
Continue reading ...

What is whole life insurance?

Whole life insurance is one of two types of life insurance coverage.

Whole life provides life insurance protection and a savings component.

Whole life insurance gives you guaranteed life insurance for your entire life.

In addition, it builds up cash value inside the policy over time from which you may be able to take a loan.

With whole life, you pay the same premium for your life insurance coverage each year.

Whole life insurance costs a lot more than term life insuran...
Continue reading ...

Whole Life Insurance offers features that many other types of life insurance plans do not. Not all of these are part of every Whole Life Insurance policy, but some of these features are:

• Coverage that will last your entire lifetime.
  
• Cash value accumulation that can be used for personal use by tax free loans.
  
• Dividends may accumulate over time (with a Mutual Life Insurance Company)
  
• The ability to pay up your entire premiums in a limited number of years.
  
• The ability to quit paying...

Continue reading ...

Usually, The smallest premium for a single premium life insurance policy is around $1,500. The highest premium may be in the millions of dollars.

The amount of life insurance coverage that you can get for any given single premium life insurance policy depends on your age, health history, tobacco use, gender, height-weight, driving record, occupation, hobbies, and other risk factors.

Your independent life insurance agent can give you rates for many life insurance companies a...

Continue reading ...

Can I purchase a senior whole life insurance policy online?

Yes, you may be able to buy senior whole life insurance coverage on the internet, if you qualify.

In fact, seniors age 80 and under may qualify to buy a whole life insurance policy. There's no medical examination required, just some health questions.

It's called single premium whole life insurance, and you pay just one premium amount, one time, and get lifetime life insurance coverage which may build up cash value inside the policy over...
Continue reading ...

If you are considering the purchase of a whole life insurance plan you may be wondering when is the time to buy whole life insurance?

Basically, whole life policies provide you with lifetime protection and may build cash value inside your policy, but cost more than term life insurance. So,here are some reasons for buying a whole life insurance plan:

1. To provide lifetime life insurance protection.

2. To build up cash value savings inside the life insurance policy from which you may take a loan ...
Continue reading ...

If you need a large amount of life insurance coverage for a temporary period of time, Term life insurance is much more cost effective, at least in the short run, than Whole life insurance.

While Whole Life insurance builds up cash values inside the policy over time that can make it come out ahead of term in the end, not everyone can afford the amount of life insurance coverage they need in a permanent life insurance policy.

Sometimes purchasing a combination of Term life and ...

Continue reading ...

A whole life insurance policy is a type of life insurance that provides lifetime protection.

Whole Life offers guarantees on a couple different levels as it applies to your life insurance policy.  

First, the death benefit is guaranteed to remain level,  and second, the premium is guaranteed to remain level, and lastly, the cash value is guaranteed. 

Whole life insurance policies build up cash value inside the whole life insurance policy over time. You may be able to take a loan...

Continue reading ...

The type of life insurance plan that meets your needs is the one that is better between term or whole life insurance.

Also, some people have a need for both types of life insurance because they need term life for their short term needs, such as, protecting their growing family until they are adults, and whole life insurance for their lifetime needs, such as, providing for their final expenses and estate taxes.

But, if you have a need for 30 years or less, then a term life insurance policy can b...
Continue reading ...

Whole life insurance is the type of life insurance which builds cash value inside the life insurance policy.

Whole life, also known as, permanent life insurance provides lifetime life insurance protection, as long as you pay your life insurance premiums.

Whole may build up cash value inside the policy over time, but usually there is no cash value until you have owned the policy for at least 3 years.

Once you have cash value in tour policy you may be able to take a loan from your policy. Usually,...
Continue reading ...

Whether or not it is smart to buy whole life insurance depends on your own specific situation, and what your life insurance goals and needs are for you and your loved ones.

If you need lifetime protection then whole life insurance may be a good idea.

If you need life insurance that may build up some cash value inside the policy from which you may take a loan out in the future, whole life may be a good idea.

However, if you are on a budget, have life insurance needs of 30 or less, or just need th...
Continue reading ...

There are a few benefits of term life insurance over whole life insurance, including:

1. Term life costs a lot less than whole life insurance which means you can afford to buy more life insurance.

2. Term life offers the flexibility if choosing how long you have life insurance coverage from 10, 15, 20 or 30 years of protection.

3. Term life is easy to understand, you pay premiums for the coverage for a certain period of time, if you die during the term, your beneficiary receives a death benefit....
Continue reading ...

Yes, Term life insurance can be converted to Whole life insurance or some other form of permanent life insurance if:

1) The life insurance policy has the option to be converted,

2) you convert the term life policy to permanent life insurance within the time frame required, and

3) you can afford the premium for the converted life insurance policy.

While a life insurance company may carry many types of permanent life insurance coverage, they do not always offer all of them to ...

Continue reading ...