How Whole Life Insurance Works скачать в хорошем качестве

How Whole Life Insurance Works

In this video we'll go over How Whole Life Insurance Works, to provide a better overview of how permanent life insurance works. This video will help determine what works best for you. Whole life insurance is also known as permanent life insurance. A final expense policy, also known as a burial policy, is a type of whole life insurance. Burial Insurance for seniors, Arrow Final Expense, Permanent Life Insurance Whole life is a form of permanent life insurance with 4 main features 1. Level Premiums 2. Level Benefits 3. Cash Value Accumulation (savings aspect) 4. Tax Free Benefit Premiums will stay the same for the duration of the policy. A level death benefit is a payout from a life insurance policy that remains the same whether the insured person dies soon after purchasing the policy or many years later. Cash value is the portion of your policy that earns interest and may be available for you to withdraw or borrow against in case of an emergency. One of the advantages of having a life insurance policy is that the death benefit is usually tax-free. Beneficiaries are generally not required to report the payout as income, so it is a tax-free lump sum. This channel was created to provide viewers with content that will help them better understand life insurance. As a licensed Life Insurance Agent, I will go over the most important and essential facts and topics in these videos. Hello I am Kelli Arrowsmith here your life insurance agent and today we're going to talk about what is whole life insurance so whole life insurance is also sometimes called permanent life insurance and they call it that because the policy is designed to last your whole life so it's permanently in place so from the day the policy starts until the day you die as long as you're paying your premiums that policy is going to stay in effect and some of the main features of a whole life insurance policy are going to be level premiums so the premium is going to stay level it's going to stay the same for the duration of the policy so the premium amount that you start on day one is going to be the same premium amount until the day that you die so the price that premium is locked in it's never going to increase so it's predictable and you can budget that as you need to the second feature about a whole life insurance policy is going to be the level payout or benefit so just as it sounds it's a fixed amount that is decided ahead of time to pay out to your beneficiary so if that policy pays 40 000 that's exactly what your beneficiary is going to get when you pass away the benefit's never going to decrease and the third feature of a whole life policy is going to be cash value so cash value builds inside the policy and after a certain amount of time depending on the insurance company you can get a loan or borrow from that cash value inside the whole life insurance policy and the fourth factor which I think is pretty popular is going to be a tax-free benefit so when you do pass the insurance company is going to send a check directly to your beneficiary or beneficiaries and that will be tax free so there will not be any income tax paid on that so those are the four key features of a whole life insurance policy level premiums a level benefit or payout building cash value inside the policy and a tax-free benefit to your beneficiary so i hope that answers the questions you have as you're looking around for the right policy if you have any other questions about whole life insurance or other kinds of life insurance just let me know down in the comments Pease like and subscribe