Whole Life Insurance Policies
Why do you need to speak with an agent first?
In a recent article, SmartMoney.Com said the following about whole life insurance:
"One of the great problems with whole life is only an expert can tell if a policy you own or are considering will ever become a decent investment. James Hunt, actuary for the Consumer Federation of America, who has analyzed thousands of policies, notes that whole life policies hardly ever yield a reasonable return unless held for 20 years or more. So if you buy one be prepared to pay into it for the very long haul."
If you are considering purchasing a whole life policy in Connecticut you should consult with a professional life insurance agent. A key factor with a whole life option is determining the rate of return after subtracting out multiple fees and charges. Our agents can provide you with a complete, thorough analysis to determine if this policy is appropriate for you or not.
A whole life policy is a permanent policy. This means the coverage is available as long as you are alive and if you keep current on your policy premiums. While whole life policies are not for everyone they do have their place in certain situations. Whole life insurance also accumulates cash value. The cash value is a return on the part of your premium which the insurance company invests. These returns are tax-deferred until you take it out and you do have the ability to borrow against it in some cases.
Speak with
an agent
(860) 928-7771