WHOLE LIFE INSURANCE

WHOLE LIFE INSURANCE

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Whole life insurance is policy in which the whole life of insurer is taken care.

 Premiums under this policy are payable upto 80 years age of the policyholder or for 35 years whichever is later.

Purchase a whole life insurance policy for following reasons:

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-Life time protection

-Payments which remain same each year

-To put additional money in the policy for a tax-favored basis.

Important points to remember in whole life insurance:

-Fixed amount is paid.

-Coverage for renewal is for whole life.

-Yes death benefit is guarantee.

-Guaranteed amount of cash value is given depending on cash value in return.

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-Cash withdrawal is not given.

-Whole life insurance is expensive.

-Tax advantage is given

-No flexibility in payments.

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