Today, we continue the life insurance series with the valuable background of whole life insurance. Exciting stuff!

This show is an introduction to the various product features and design ideas. We cover:

  • Ordinary life insurance
  • Limited pay life insurance
  • Cash values
  • Policy loans
  • Nonforfeiture or Surrender Options:
    • Surrender for cash value
    • Reduced amount of paid-up whole life
    • Paid-up term
  • Annuity or retirement income
  • Policy conversion
  • Participating versus nonparticipating policies
  • Policy dividend options
    • Cash
    • Applied to premium
    • Used to purchase more insurance (fully paid up)
    • Left with insurer to earn interest
    • Used to purchase more insurance (term)
    • To overpay premiums until policy is fully paid up

Enjoy the show!

Joshua

 

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