Whole Life Insurance

Why pay more than your neighbors in the Troy and nearby Sterling Heights, Rochester Hills, Shelbyville, Pontiac and Southfield, Michigan region??? Save on your policy or get a better deal for whole life / universal life insurance:

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People usually select permanent insurance (or Whole Life, as it's also called) for the peace of mind of knowing their beneficiary will receive money no matter when they die. It also includes a savings feature that builds up cash they can tap into while they're still alive. Permanent insurance is more expensive than term, but has four variations to fit different needs:

  1. Whole life. You pay a fixed premium your entire life for a fixed benefit at death. It includes a cash savings feature that may, over time, grow to a substantial amount.
  2. Universal life. This gives greater flexibility than whole life as you may be able to change the amount of coverage you get as your needs change. Some changes may require a medical exam.
  3. Variable life. This invests some of your premiums in the market to try to increase your benefit. It usually includes a minimum guaranteed death benefit, but not a minimum cash value.
  4. Variable-Universal life. This combines the premium and death benefit flexibility of universal life with the investment flexibility and risk of variable life.