Reasons to Life Insurance Whole Life

Insurance: Pay the

buy
premiums for a
certain number of
years in exchange for
1. To pay for the expenses a predetermined
of someone passing death benefit. Zero
risk for the insured
2. To provide dependents and not much
with and emergency worrying about the
policy
fund in case of death
3. To provide sufficient Universal Life: type
funds for the surviving of permanent
insuance creaed to
parent/spouse take advantage of
high interest rates
Factors to and yield higher

include earnings on the cash

value. More flexible
1. How long you need than the other
policies, as you can
coverage increase and decrease
2. How much debt you you coverage at will
have (if any)
Variable Life: both a
3. How old you and life insurance and a
what is your life security, meaning it is
an investment similar
expectancy to shares of stock,
bonds, and money
market accounts.

Cash Value: would not receive money P

if you passed, you would only if you
give up the policy R
Death Benefit: sum of money your O
beneficiary receives after your death
T
Beneficiary: the person or legal enity E
that receives the death benefit
C
T

Term Life Insurance : a life Permanent Life Insurance : covers

insurance policy limited to a specific
length of time, ot term, Therefore if
you die during the term, the death
benefits are paid to your beneficiaries.
you for your life time or until a
specified age such as 100, whichever
comes first. If you live to the specified
age, the insurer will pay you your own
death benefit.

How to Apply?: 1. Get a quote 2. Speak with an agent 3. Complete an application 4. Take a medical exam