Perhaps one of the only downfalls of whole life insurance is that it can be costly. Because the insured is protected for the duration of their life, this policy could wind up costing a person significantly more than it would to buy a term life policy. Then, if you add on health conditions and habits like smoking that insurance providers deem risky, you could see your insurance premiums rise even more.
Still, despite its cost, whole life will provide insurance holders with lifelong peace of mind. There are several different types of whole life insurance from which a person can choose, including single premium, interest sensitive, economic and limited pay.
If you’re unsure as to whether or not whole life is the insurance for you, evaluate your current circumstances and the needs of your dependents. If there are people or interests you wish to protect for longer than any set duration of time then whole life could be just the solution you’re looking for. Fill out our quote form and we can help compare rates and provide free Whole Life Insurance Quotes for you.