If you want to find the best life insurance companies that are providing excellent whole life insurance, this article is for you. This article will list out things you can do in order to get the best out of the whole life insurance you will buy. Without further ado, let’s start.
Look for a company that offers whole life insurance coverage
If you need life insurance coverage that will not expire before you pass away, think about getting a whole life insurance coverage. Whole life insurance can be described as a form of long term life insurance that provides coverage for your lifespan, unchanging monthly premiums and an assured return for the money value of the insurance policy.
Whole life insurance coverage is an excellent plan to purchase in case you require insurance coverage that can last for an entire lifetime. Additionally, if you want level premiums or payment that do not increase as you go old, whole life insurance is also for you. Whole life insurance will also provide an assured a secured return for the monetary value of the premium that you pay monthly.
Do you really require whole life insurance coverage?
Prior to purchasing whole life insurance, talk to a financial consultant if it is the best for you. Whole life insurance coverage suits many people, however, term life insurance is enough for the majority of households.
Term life insurance features no cash value from monthly premiums and comes to an end following a period of time of your choosing, normally has more affordable monthly premiums when compared with whole life insurance policies. If you have already consulted and decided for whole life insurance, continue reading below.
Here is a summary of the largest providers of whole life insurance, according to the total sum of funds that people pay them for their whole life coverage.
- Guardian Life Insurance
It provides a survivorship insurance policy that guarantees two different people on a single policy, generally, a couple that is married. Guardian Life Insurance also provides whole life insurance policies to healthy individuals suffering from HIV. Some of their policies have cash value tied to the general performance of their own S&P 500. This company also provides people with the opportunity to generate returns via dividends.
- MassMutual
MassMutual is a company that provides insurance policies ranging from $2,000 – $25,000 without any medical examination requirement, for people aged 40 years up to 80 years old. They also provided insurance coverage policies that have an acceptance guarantee for people aged 50 – 75. If you want to avail of their whole life insurance policies, you will have to go through a medical assessment. Similar to the first insurance provider mentioned, MassMutual also provides the opportunity to their insurance holders to earn income based on dividends.
- New York Life
New York Life provides three different versions of whole life insurance. They have a regular policy, a value coverage featuring reduced monthly premiums and a customized whole life insurance policy intended to develop cash value more quickly. Similar to the first two companies mentioned, this company also provides dividends.
- Transamerica
Transamerica provides three versions of their final expense insurance coverage. Their insurance can go as low as $2,000 and can reach up to $3 million.
