Whole Life Insurance

Whole life insurance is a type of Cash Value life insurance that mixes an investment/cash account with the insurance.   The other main type of life insurance is term life insurance which is pure insurance with no cash account.  The debate between Whole Vs Term insurance is the focus of this website.

Whole life insurance is typically 8 to 12 times more expensive per year. According to the Wall Street Journal has a high incidence of clients abandoning their policies.   Because of the costs and complexities whole life insurance is probably not for most Americans.

There are however a couple of great reasons to consider purchasing whole life insurance such as funding special needs trusts and for truly extremely wealthy Americans.   Some people that can not quality for term life though may need to buy a form of whole life as that may be the only option available to them.

If you are considering purchasing any form of life insurance it is best that you check the Financial Strength Rating of that insurer.

The world of life insurance is confusing, do not get lost.

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