Life Insurance Policy

A whole or universal life insurance policy is a life insurance policy that is kept in force for the insured's whole life as long as the scheduled premiums are maintained. A whole or universal life insurance policy builds cash value, which can be surrendered at anytime. The cash is generally used for supplementing retirement income, collateral on a loan, reducing the coverage amount so that the policy is paid in full, or paying premiums for a certain period of time.

Most whole and universal life insurance policies are guaranteed as long as the scheduled premiums are maintained. The variable of a whole life insurance policy is the dividend, which could vary depending on how well their life insurance company is doing. If their company is performing well, and the policies are not experiencing a higher mortality than projected, premiums are paid back to the policyholder in the form of dividends. Policyholders can use the cash from these dividends in many ways. The two main uses are for lowering their premiums or purchasing another life insurance policy.

TermAdvantage is committed to finding you a life insurance policy that fits your family's needs and budget. Since life insurance policies vary in price substantially, TermAdvantage shops over 2,000 life insurance companies to find a life insurance policy custom-fitted to your exact specifications. While the decision to purchase a life insurance policy is an important one, TermAdvantage is committed to finding you the best available life insurance policy at the lowest rate from the nation's highest-rated (A or better by AMBest.com) life insurance companies.