Whole Life Insurance

“When a man reaches 65, he is either glad he did

Buy life insurance or sorry that he didn’t”

Whole Life Insurance

The premium amount to be paid is usually level (same) during the insured person’s lifetime, the premium does not increase due to older age.

This creates a reserve fund a policy inforce for at least three years would have an element of cash value. Which will increase over the years?

Sometime a part of the cash value can be taken out as a policy loan, and the interest rate will be determined by the insurance company.

Premium is usually payable throughout the life time. Death benefits are payable to the nominees or assignees upon death of the insured.

Whole Life policy with profit gets returns in the form of dividends every year.

Buying a Whole life Policy with medical Card and critical illness with all the medical attached to it is the best choice to make. As you will never know what is going to happen tomorrow you may never be able to buy a policy due to accident or health problem. This policy can protect your future income. We will talk about it in other chapters .

Investment link Policy

This is also a life policy everything is same like  a Whole life insurance. The only difference is you decide where and how you want to invest. You take all the risk to get highest profit. or you can ask the company to do it for you.

Before you start investing, Life policy should be your first investment.

You can add riders to your policy's - we will talk about it later.

Most people think it is very easy to buy a policy, the truth it is not that easy. Your plan need to be underwrite by the company all you need is diabetic it will be reject. for Asthma, Hypertension or any other minor disease you may have to pay a loading sometime your premium end-up double. This should be your first policy to buy as you can lock up all your medical acquirement.

Remember buying a policy is like talking to your doctor for your health problem don't take it lightly. 

About the author: Kertar Singh has joint Great Eastern Life Assurance in August 1995 as a part time agent.

Became a full time agent in 2000 after retiring from the army after 22 years.

I deal with all kind of Insurance from Life Insurances to General Insurances and Will Writing.

Kertar.en@gmail.com

H.P 013-322 8582

Notes: Reference have been made from MII and Gela