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If you're in the market for both life insurance and a long term investment, a whole life policy might be the answer you're looking for. What is whole life insurance? It's life insurance that both protects your family and builds up a tax-deferred savings account. Advantages of Whole Life Insurance When you buy whole life policy, part of your premium pays for the policy and the rest is invested by your insurer. The advantages of this type of policy include: * No expiration date. As long as you continue paying the premium, your family will be protected in case of your death. * No premium increases as you get older. * The longer you hold the policy, the more your cash value account grows. * If you decide you no longer need your policy, you can cancel or surrender it and still receive the cash value you've built up. * You can borrow against the cash value you've built up. * You can earn dividends on your investment. * Your cash value account grows tax-deferred. Finding the Best Rate You need to comparison shop to make sure you're getting the best rates. To find a cheap rate go to an insurance comparison website and fill out a simple online application. This application will ask you questions such as how much insurance you want to buy and what your age and occupation are. Once you submit the application you'll begin to receive quotes from multiple A-rated companies. You can review those quotes at your leisure and choose the one that's best for you. If you have questions, the best insurance comparison websites have a chat feature so you can talk to insurance professionals online and get answers to any questions you may have (see link below). Visit http://www.LowerRateQuotes.com/life-insurance.html or click on the following link to get whole life insurance rate quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section. The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written a number of articles on what whole life insurance is and where to get the best rates.
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