Whole Life Insurance
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A whole life insurance policy or permanent life insurance provides life coverage until the death of the life assured. The policy stays in force throughout the life as long as the life assured pays the premium.
A whole life insurance policy or permanent life insurance provides life coverage until the death of the life assured. The policy stays in force throughout the life as long as the life assured pays the premium. The sum assured or the coverage is decided at the time of policy purchase and is paid to the nominee at the time of death claim – when the life assured dies. Usually, the maturity age is 100 years. If the life assured dies before the age of 100 years, the nominee receives the sum assured. However, if the life assured outlives the age of 100 years, the insurance company pays the matured endowment coverage to the life insured.
- Premiums of the plans are very low since both plans cover only death risk
- Since the premiums are low, individuals can afford to buy a high level of sum assured under both the plans. This high level of sum assured ensures financial security for the insured’s family if the insured dies during the policy term
- Coverage under term plans is allowed for longer durations. In the case of whole life plans, coverage runs till 99 or 100 years of age
- Many terms and whole life plans have inbuilt riders which aim to increase the scope of coverage of the plan. Common riders which come inbuilt include accidental death and disability benefit rider, terminal illness rider, critical illness rider, etc.
- In many plans, the death benefit is also paid in monthly installments to create a regular source of income for the family.
- Your premiums are fixed and will never go up, regardless of market conditions.
- You may be able to withdraw funds or take out a loan.
- Your death benefit is guaranteed as long as you make the required premium payments.
The purpose of a whole life policy is to provide a life cover for the financial protection of your family through your working life. The policy then doubles up as an estate plan after your retirement. Thus, whole life insurance is a great tool for wealth transfer. As our life moves forward, our expenses continue to mount. We work hard to ensure that these expenses are not overwhelming at any life stage. However, we should always plan for future uncertainties – life insurance can help you stay financially strong during difficult times and provides protection to your family in your absence.
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
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Term Life Insurance
Don't leave everything to chance; keep yourself protected with an insurance
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More than 1000 Satisfied Customers
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100% customer satisfaction
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16 knowledgeable advisors to help you
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85+ coverage options to choose from
Everyone deserves a secure financial future — and that’s why life insurance is so important. Whether you’re just starting out or you’re getting ready to retire, a life insurance policy can help you give your family financial peace of mind if you are no longer there to provide for them.
Life insurance policies help provide security to either you or your beneficiaries after you pass away or after a designated period of time. With a life insurance policy you can help secure your family’s financial future by paying for college, paying off a mortgage, covering any final expenses or estate taxes, and more.
There are four primary types of life insurance, and each has a place in any sound financial plan. The four variations of life insurance are:
Term Life Insurance – fixed premiums for a fixed period of time, like 10 or 20 years
Whole Life Insurance – permanent insurance, as long as premiums are paid, with fixed premiums and cash value benefits
Universal Life Insurance – permanent insurance with options to change premiums and death benefits
Variable Life Insurance – similar to Universal Life but with the flexibility to choose investment risks to maximize cash value benefit
Life insurance is important, as it protects your family and lets you leave them a non-taxable amount at the time of death. It is also used to cover your mortgage and your personal loans, such as your car loan. Your individual life insurance follows you when you retire and you are no longer insured by your employer. This insurance will also replace your family income when resources are less and you are not around, so they can maintain their quality of life.
Once you understand the importance of taking out a life insurance policy, you need to make the right choice. To do this, you need to ask yourself about your needs and purchase a product that works for your family and insurance premiums that fit your budget. We can help you with this, contact us to know more.
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
Request a Quote
Get Personalized Term Life Insurance
Individual Plans by All Insurance Community
Don't leave everything to chance; keep yourself protected with an insurance
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More than 1000 Satisfied Customers
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100% customer satisfaction
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16 knowledgeable advisors to help you
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85+ coverage options to choose from
The Affordable Care Act (ACA) is a law by President Barack Obama in March 2010 which aims to increase access and affordability in healthcare. Formally known as the Patient Protection and Affordable Care Act and often called Obamacare, it includes many healthcare policies intended to expand access to health insurance to millions of uninsured Americans.
The Affordable Care Act (ACA) is a law by President Barack Obama in March 2010 which aims to increase access and affordability in healthcare. Formally known as the Patient Protection and Affordable Care Act and often called Obamacare, it includes many healthcare policies intended to expand access to health insurance to millions of uninsured Americans. The act expanded Medicaid eligibility, created health insurance exchanges, mandated that Americans purchase or otherwise obtain health insurance, and prohibited insurers from denying people based on pre-existing conditions and allows children to remain on their parents’ plan until they turn 26 years old.
- Ambulatory patient services
- Breastfeeding
- Emergency services
- Family planning
- Hospitalization
- Laboratory services
- Mental health and substance use disorder services
- Pregnancy, maternity, and newborn care
- Prescription medications
- Preventive and wellness services and chronic disease management
- Pediatric services
- Rehabilitative and habilitative service
- Pre-existing conditions
Better value
Get more from your plan with low-cost or no-cost primary doctor visit for urgent care and access to any any clinic location for your healthy living needs. You also save with discounted products and a trusted pharmacy network that works to control your costs and help you get the medicine you need.
Better care to help you stay healthy
We’re in your corner with specialized management for chronic conditions like diabetes, high blood pressure and kidney disease. From mental health counseling and treatment options to data-driven “nudge” reminders, we’re here to help ensure being healthy isn’t hard with a quality network of health care providers and local walk-in clinics.
Better access
Take advantage of care when and where you need it with access to several hospitals, pharmacies and facilities where you can better monitor your health. Plus, get always-on 24/7/365 telehealth support for chronic conditions and common illnesses plus coverage and support for mental health needs.
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
Request a Quote
Get Personalized ACA Plans
