Life Insurance

It is not difficult to understand what is whole life insurance , as the name implies, it is a life insurance policy that provides the insured a lifetime protection; it is a type of permanent life insurance. For example, if you bought a whole life insurance , you will have to pay a fixed amount of premium for life instead of the increasable premiums of term life insurance . How long do we need to pay for a whole life insurance ? There are whole life insurance policies designed to mature at the age of 100, this is the age when premiums end and the cash value equals to the face value of the policy, and this cash value will be paid to the insured. Normally a whole life insurance policy doesn’t specified how long is the maturity, the premiums are calculated by the insured’s age, usually starts at the age when he buys until 85 years old, the male and female could be different because the females have a longer life span than the men. The premium is then calculated, and a fixed amount of premium needs to be paid, whether monthly, quarter yearly, half yearly or yearly.     ...

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