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
