Whole Life Insurance -- When It's Your Best Option

If you want to get the most coverage per premium dollar spent then whole life insurance is NOT for you. It's not the cheapest out there for you -- You'll save much more with a term life policy given exact same circumstances.

However, we all also know that getting the cheapest policy is NOT always what we really want. We really want the most value at the most competitive price. This is where a whole life policy becomes reasonable. Let's take a look at the value you get and how you can get it at the most competitive rate...

1. A whole life insurance policy must pay out a benefit provided you fulfill your own part of the contract. It's NOT a question of if; it's a question of when. So if you really want to be sure certain people get certain benefits when you pass on, then you can count on it.

2. If you develop a serious health condition after buying your policy, you have no fears. Remember, once you've signed the dotted lines, the insurer is stuck. Try that with a term life policy and you'll be declared uninsurable the moment your current term expires.

3. Because it builds cash value, you can either surrender the policy is exchange for cash or use the policy as collateral for loans. However, you have to take out time to understand the fine prints of your policy. This is because certain actions will affect your benefit amount. Others may incur a penalty or charges.

Many people avoid a whole life insurance policy for one reason: It's a lot more expensive. But you can take a simple step that will guarantee you save several hundreds or even up to a thousand in premium dollars...

Get and compare whole life insurance quotes from five or more reputable quotes sites. There's a huge disparity in rates returned by insurers. Take advantage of it and pay much less for superior coverage now.