What Are the Different Types of Life Insurance Policies?

A Life insurance policy is a deal between an insurance company and the insured which assures to pay out a certain amount to your beneficiaries on the occasion of your death.  You can contact with long-term care insurance agent in Seattle and get free advice online.

The advantage of a life insurance policy is not for you. It is to give for your loved ones, but after you have gone. After your death, the money is paid to those who depend on you to provide them a protected standard of living, which they might lose if you should die. This is money when they need it the most, with no income tax or publicity.

Today there are numerous policies available from various companies. But the best buy for you depends on your circumstances and financial viability. One such plan is a short-term, cash value life insurance. If you don’t hold onto them long enough, cash-value life insurance policies are a waste of money.

Cash-value life insurance theoretically offers both a death benefit and a return on investment. Your equity builds up over the years, and you can borrow against it or simply stop paying on a policy and let the annual dividends keep the policy going.

Getting a life insurance loan is the easiest way to get immediate access to your funds. Many insurers offer policy owners the privilege to borrow against the cash value of their existing policy. But before you borrow against your policy, it is essential that you learn how they work and the factors mixed up in acquiring insurance loan.

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