199-Whole Life Insurance

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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