mainstay of the life insurance industry, "permanent"
or whole life insurance is one of the most widely held among consumers.
the insurance company you deal with is the main factor in whether
it remains rock solid in guaranteeing death benefits and cash
value. So it pays to shop around - and to learn more about the
company's financial health before you purchase your policy.
The most basic
form of cash-value life insurance, whole life provides an opportunity
to build up tax-deferred equity as you pay your monthly premiums.
Unlike bare bones term
life insurance, whole life can also be borrowed against in
the event of a financial pinch, or even forfeited for its cash
there are a handful of options to whole life you can explore with
an insurance agent, depending your financial circumstances.
a single one-time premium payment, which gives the policy immediate
cash value; or policies that allow for lower payments in the beginning
and higher payments in later years (modified whole life); or initial
lower payments that gradually level off (graded premium).
On the Web,
learn more about the policy that's best for you at top sites offering
tips and advice, policy comparisons, and the basic pros and cons
of purchasing whole life insurance ...
life vs. term life insurance - Another comparison from
CNN Money, with the argument squarely in favor of term life insurance
for its cheaper cost. Also see related links to basic life insurance
facts and info.