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Answered 2013-06-30 04:06:14

One can obtain premium whole life insurance through their current insurance company. Several companies such as TD Insurance and BMO Insurance, offer great rates.

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Some Insurance companies that offer single premium whole life insurance are K&K Insurance, MetLife and Jackson National Life. Others are Mutual of Omaha or AXA Insurance.


Single premium life insurance is life insurance coverage in which one premium payment is made and the life insurance policy is fully paid up with no additional life insurance premium payments required.


An insurance premium is the amount of money paid on a periodic basis for insurance of a given kind. The kind of insurance involved does not alter the definition of the term "premium". Therefore, a life insurance premium is an incremental amount paid for life insurance, and a non-life insurance premium is an incremental amount paid for another kind of insurance.


Indeterminate premium life insurance is a type of whole life insurance that specifies two premium rates: a guaranteed maximum, and a lower rate you actually pay. The lower premium level is for a set period of time. Then the company establishes a new rate that may be higher or lower than the initial premium. But your premium can never be more than the guaranteed maximum.


Term life insurance is an insurance that is set for a specific time period, for example, one can obtain term life insurance for 30 years. Whole life insurance covers one from application to death.


Life insurance is tax deferred so you cannot use the premium as a tax write-off.


Graded Premium Life is actually Graded Premium Whole Life Insurance coverage under which the initial premiums are less than normal for the first few years of the policy, then the premiums gradually increase each of the next several years, until they become level (or the same) for the duration of the life insurance policy.


Life insurance is a more general concept that may refer to either whole life insurance or term life insurance. Whole life insurance gathers value the longer you have it, whereas Term life insurance does not obtain any value that you may use before you die. Term life insurance only pays out when you die.


Whole life insurance is not necessarily bad but it may not be right for you as it can be substantially more expensive than a term insurance. If you need life insurance but don't want to pay the high premiums on whole life insurance ask for term insurance quotes. Whole life insurance is a level premium from the time you get the insurance until you die which is good if you have an estate that will need liquid funds but not necessarily right for someone who is just looking for life insurance until their kids are grown or their mortgage is paid off


purchased for a set premium cost with the option of paying in more.


It is a guaranteed fixed premium permanent life insurance policy. It usually has a Guaranteed Minimum Cash Value that increases each year.


The benefits of having Term Insurance as opposed to Whole Life Insurance are that Term Insurance is cheap for people up to the age of 50 and even up to the age of 65 in some cases. Whereas Whole Life Insurance is much more expensive as you are also paying for an investment in bonds or stocks which add significantly to the premium



A paid-up policy is a whole life insurance policy for which no additional premium / payments are required to keep it in force.


Whole life insurance delivers coverage for the lifetime of the policy holder. It guarantees a fixed premium which can build cash value (which usually cannot be withdrawn without cashing the policy out). Term life insurance guarantees a fixed premium for a shorter period of time, and builds a better and more usuable cash value than whole life. At the end of the term policy the holder must either sign up for another term or forfeit coverage.


Yes, you can. It's called Single Premium Life Insurance. With single premium life insurance coverage one premium payment is made and the life insurance policy is fully paid up with no further premiums required.


Universal life insurance means you will pay the same premium until death, where as with term life insurance you will pay a certain premium for a period of time and then may or not be offered the same premium again for another term.


There are a few Canadian insurance companies that one could compare the prices for life insurance. There are websites like Progressive and TD Insurance that will show their competitor's prices as well as their own.


It would be life insurance on a single life. Most likely you mean Single Premium Whole life which is a policy that you only pay one premium. It is highly appropriate and valuable over keeping money in the bank to pay for final expenses or transfer of wealth.


Whole life insurance means the life insurance policy that:normally covers an individual until his or her death, unless it lapses due to non-payment of premium or is cancelled,builds up a cash value (called cash surrender value),pays a fixed death benefit, andwhere (unlike in a term life insurance) the premium amount remains constant despite the advancing age of the insured.The insured or policyholder may obtain a loan (called policy loan) against the accumulated cash value. For more information refer to link below.


The nature of term insurance is that after a set number of years, the coverage ends. At that time, or ideally before, the insured may obtain another term policy with the same or a different insurer, to last for a further period of years. Alternatively, the insured can obtain some other form of life insurance, such as whole life. New term insurance that the insured tries to obtain will likely cost more in monthly premium due to the advanced age of the proposed insured. The premium increase can be ameliorated by reducing the amount of insurance purchased. Additionally, whole life insurance is, by its nature, more expensive, because one of its attributes is a savings element ("cash value") which term insurance does not have. If there have been adverse changes in the insured's health since the issuance of the original policy, they will be considered in the underwriting process. They may result in a further increase in premium (in addition to that attributable to increased age), a disqualification for coverage, or a willingness by the insured to issue a policy with only a limited amount of benefits.


explain flexible premium multifunded life ins.



Basically Perm and Term. Perm or whole life or Cash Value life can be several different types such as Single Premium Whole Life, Indexed Universal Life, Universal Life, several different variations of WL such as Interest Sensitive WL and then there are the variables. Also, the "new" term pays you all your money back in the end. Broadly there are two types of life insurance: a. Term life insurance b. Permanent life insurance Term life insurance can be further categorized into: a) Annually renewable term life insurance (ART) b) Guaranteed level term life insurance c) return of premium life insurance (ROP) While permanent life insurance can be further categorized into: a) Whole life insurance b) Universal Life insurance c) To age 100 level guaranteed life insurance d) Survivorship or 2nd- to- die life insurance


A single pay whole life insurance policy is a permanent life insurance policy that requires a one time payment/premium. The policy is guaranteed to stay in force until age 121 (in USA) and no additional premiums need to be paid.



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