Insurance

Dec 22 2017

Whole Life Insurance – What Is Whole Life Insurance? #dentist #insurance

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What Is Whole Life Insurance?

By Miriam Caldwell. Money in Your 20s Expert

Miriam Caldwell is a freelance writer with a specialty in personal finance. She believes that you can lay a solid foundation by starting to manage your finances in your twenties.

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The rate of return on the investment is very low. You can purchase more insurance and then invest the difference in cost with a term life insurance policy and you will come out ahead financially.

Whole life insurance is better than no life insurance, and if you do not qualify for a term life insurance policy due to medical conditions, then you will want to keep your whole life insurance coverage. If you have had a disease that makes it difficult or impossible to purchase life insurance, and you already have a whole life insurance policy in place, you should keep it. Life insurance is there to help your loved ones after you have passed away, and you should not cancel it just because it is not a good deal or investment if you cannot get other life insurance.

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When you are considering life insurance, take the time to prepare a will for your family. This can protect your children and your assets and help provide a solid home for your children to live in if you and your spouse were to both pass away. This is just one way that you can continue to provide for your family if you were to die unexpectedly. Purchasing life insurance is just the first step in making sure that your children are cared for if you were to pass away. A lawyer or an estate planner can help you set up a solid plan in just a few sessions. Take the time to do this for your family today.

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