Traditional Whole Life Policy

Traditional Whole Life Policy

A life insurance policy with no expiration date. That is, a traditional whole life policy provides coverage for the entire life of the policyholder (provided he/she continues to make premium payments). When the policyholder dies, his/her beneficiaries receive the death benefit. Traditional whole life policies also include a cash surrender value, allowing the policyholder to recover part of the premium he/she has invested in the policy should he/she ever decide to cancel the policy.
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Is a well-funded cash value universal life policy as secure for the customer as a traditional whole life policy? My customer is price-conscious but wants iron-clad insurance.
Base mandatory premium combined with a rider (similar to a paid-up additions rider for a traditional whole life policy) which accommodates additional money, resulting in an annual payment of $2,001.
However, in the event that favorable performance does not actually occur, the required premium payment as guaranteed at issue may actually be slightly higher than it would have otherwise been under a comparable traditional whole life policy. This is the risk associated with having a possibility for favorable investment or mortality experience.
Whole Life Insurance--A traditional whole life policy provides both a death benefit and a cash value component.
Option A, similar to a traditional whole life policy, offers a fixed or level death benefit.
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