0
How may the demand for whole life insurance premiums be said to have grown?
Wiki User
∙ 13y ago
the volume of whole life insurance premiums written grew steadily from about $50 billion in 1983 to $79.3 billion in 1991
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is modified whole life insurance and how is it different from regular life insurance?
Modified whole life is a whole life policy that charges smaller premiums for a specified period of time after which the premiums increase for the remainder of the policy. Whole life often can change unrpedicatably due to inflation.
Why is whole life insurance not the best insurance to have?
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
How can one define whole life insurance?
Whole life insurance varies from term life insurance because it is valid for the insured's entire life instead of just for a specified amount of time. Whole life insurance typically has premiums due each year.
What is Modified whole life insurance?
This type of insurance is kind of like an ARM mortgage. You pay low premiums for a set time, but then they increase after that.
How does Best Whole Life insurance work?
Best Whole Life insurance provides guaranteed premiums based on the company's performance. A large sum of money is equaled and distributed over a period of time.
What is a insurance 770 plan?
A 770 insurance plan is a whole life insurance plan. The life insurance plan is set up as an annuity. When seven years of premiums are paid the plan will pay for itself.
What is the AARP Life Insurance Program?
The AARP Life Insurance Program is to help members protect their families. It offers affordable premiums for term life and whole life insurance plans.
What is modified life insurance?
Modified Life Insurance is Ordinary Life Insurance under which premiums are calculated so that the first few years of premiums are less than normal, and subsequent premiums in later years are higher than normal. This type of coverage may also be called Graded Premium Whole Life Insurance under which insurance premiums are lower than normal for the first few years, then gradually increase for the next several years until they become level for the remainder of the policy.
Which of these is an element of whole life insurance?
under this type of policy, the insured pays premiums for his or her entire life :) thankkk emery.s (;
In which life insurance some part of the money you pay in premiums goes to pure insurance while another portion goes toward savings?
That would be Whole Life Ins
When do you stop paying for whole life insurance?
Whole life insurance has a definite period during which premiums are paid. This will be specified in the policy. When first purchased, in addition to the amount of insurance selected, the purchaser selects the period of time that premiums will be paid. The amount of premium will depend both upon the amount of insurance and the length of time that premiums will be paid. Once the selections are made, assuming that the insurance company issues the policy on the terms that you have requested, the policy will state those. Once premiums have been paid for the stated period of time, the policy is considered to be "paid up", and no further premiums need to be made. A whole life policy also accumulates "cash value". This can be considered to be a sort of savings account within the policy. Every premium is allocated between the cost of the protection (the insurance itself) and the cash value. A point may be reached where the accumulated cash value, and the interest or dividends that it accrues, is enough to pay future premiums. If that happens, the obligation to pay premiums may end before the time stated in the policy.
What are the disadvantages to having a Participating life insurance?
Participating whole life will have significantly higher premiums required than both term life insurance and universal life insurance (permanent coverage) that features a no-lapse guarantee.
