But keep in mind life insurance
should not be purchased solely for cash-value accumulation; its
primary purpose is protection. Depending on your age and health,
your premium will purchase a specific death benefit and produce
a specific cash value, which are guaranteed for the life of the
policy as long as your premiums are paid. Whole Life Insurance
premiums, while higher than term premiums, are guaranteed not to
increase. In addition, Whole Life policies can earn annual
dividends which are based on MetLife's investment, mortality,
and expense experience. Dividends are not guaranteed. People who
need this type of life insurance are the following:-
• Those who have a lifetime need for life insurance protection
• Those who prefer the high degree of safety provided by the policy's guarantees
• Those who are attracted by the policy's ability to build tax-deferred cash values
• Those who like to know that their premiums will never increase The following demonstrate some advantages of whole life insurance:
• Earnings, and certain withdrawals and loans, may qualify for tax-favored treatment.
• Policy loans and withdrawals provide access to your cash value.
•If you cancel the life insurance policy, the accumulated cash value is yours to use as you wish. Taxes may apply.
• Dividends can be taken in cash or used to increase the policy's cash value and death benefit. This means that certain "dividend options" may be used to purchase additional life insurance coverage each year, regardless of your health.
• Life insurance Premiums are guaranteed not to increase over the life of the policy.
• A minimum death benefit is guaranteed.
• The cash value is guaranteed to grow at a specified, minimum
rate. Over time, whole life insurance may be more economical than term life insurance since premiums do not increase with age and the policy builds a cash value. For more information free to visit http://www.unbeatablelifeandcriticalinsurance.co.uk.
