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When it comes to picking a life insurance policy, there are a lot of options out there. That’s why it’s important to work with an agency you can trust so you can get the most valuable and helpful information. At Health Care Solutions, we’ll be that helping hand and resource you need!
Our ultimate goal is to make sure you have coverage that works for you and your loved ones, so let’s go over what whole life insurance is and how it may be able to benefit you!
Unlike term life insurance that expires after a certain amount of years, whole life insurance is a type of permanent life policy intended to last until the policyholder’s death. This means that the beneficiary will most likely receive a death benefit, making it a very popular insurance option. In return for providing a guaranteed death benefit, the policyholder must keep up with their premiums.
Another popular reason why this plan is chosen is that it offers a savings option known as a cash value. Placing money into the savings account will allow interest to build up, so it’s a reliable way to build upon the policy’s sum, providing what’s known as a living benefit that’s only available to you, the policyholder!
Whenever you need to access this cash value, all you have to do is request a withdrawal or loan. However, keep in mind that any unpaid loans will decrease the amount of the death benefit!
If you want to provide for your spouse or other dependents and have a guaranteed death benefit, then this type of life insurance might be the right choice for you. Many people choose this type of policy because of the savings option, so that’s also something to consider.
Life insurance doesn’t have to be overwhelming! Working with a knowledgeable professional can make the learning process easier. At Health Care Solutions, we’re here to guide you every step of the way and make sure that you get the answers you need. Let’s work together to find the right life insurance policy for you.
Call us today to schedule your appointment so we can meet and answer all of your questions about whole life insurance!