Term vs Whole Life Insurance
Term life insurance offers you security only for a specific "term" or time frame - usually renewable until the insurer reaches the age of 75. As the term applies, whole life insurance provides coverage for the whole life or until the person reaches the age of 100. So, essentially the basic difference between these two types of policies lies is related to the personal financial goals; a short-term is fulfilled by a term life whereas whole life insurance is considered more for the long term.
Whole life insurance provides you with a tax-deferred cash value for the investments during the term of the policy. Due to its investment nature, it demands for higher premiums.
This is in sharp comparison to mere hundreds of dollars a year that a consumer would pay for a term life insurance. Insurance companies tend to be conservative to minimize the risks involved when investing your whole life insurance premiums. Term life policies often give you the option to choose your investment strategy if you can assume the risk and are knowledgeable with market investments. A typical scenario for a term life insurance policy would be when parents may buy one till their children graduate from college. This would ensure that in the unfortunate event of their death, the expenses for education are covered by the insurance company.
Due to the limited risk assumption, a term life insurance policy is cheaper and ceases to exist after the term ends. There is no tax-deferred cash value as in the case of whole life insurance. Moreover, the premiums increase exponentially as you grow older and can actually become unaffordable. A whole life insurance will ensure the financial independence of your loved ones for the entire lifetime in the unfortunate event of your death. As stated earlier, it is a personal priority based on various factors which drives the decision towards securing the financial future with a term life or a whole life insurance..
Oxford Life Insurance Company and Subsidiaries Christian Fidelity Life Insurance Company and North American Insurance Company Announce Upgrades in Financial Strength Ratings
Oxford Life Insurance Company (Oxford Life) (Arizona) has been upgraded by A. M. Best, the world's oldest and most authoritative insurance rating and information source, to B (Fair) from B- (Fair). The rating increase also applies to Oxford Life subsidiary companies Christian Fidelity Life Insurance Company (Texas) and North American Insurance Company (Wisconsin). The rating outlook for all three companies remains positive."This upgrade reflects our emphasis on continuing financial security, improved operating results, increased capitalization and reduced risk exposure in our invested asset portfolio." said Mark A.
Haydukovich, President of Oxford Life. "The two A. M. Best upgrades this year, combined with Oxford Life's qualification for membership in the Insurance Marketplace Standards Association (IMSA), reflect our commitment and promises to agents and clients of continued financial strength and integrity."Founded in 1965, Oxford Life Insurance Company specializes in providing...
Oxford Life Insurance Company and Subsidiaries Christian Fidelity Life Insurance Company and North American Insurance Company Announce Upgrades in Financial Strength Ratings
Life insurance > Oxford Life Insurance Company and Subsidiaries Christian Fidelity Life Insurance Company and North American Insurance Company Announce Upgrades in Financial Strength Ratings
Buying life insurance: A Shopping Checklist
When shopping for term life insurance, you want to find the right amount of insurance coverage at a reasonable price with a company you can trust. But for many people, getting started is the hardest part. That's where the following Life Insurance Checklist can help.
1. What you would like your policy to achieve?
Ask yourself what it is you want your life insurance to do.
For example, do you want to have insurance coverage that will:
? Pay funeral arrangements?
? Pay the outstanding balance owing on a mortgage and other debts?
? Offset the loss of your income? And if so, for how long?
? Contribute to the future education of your children?
? A combination of all or part of the above?
Knowing what you would like to accomplish with your life insurance policy and approximately how much you need to achieve these goals will help you determine how much life insurance you should consider purchasing. Online...
Life insurance > Buying life insurance: A Shopping Checklist
What is life insurance?
The insured amount to be paid, by the insurer, on death of the person is called Insurance. Life insurance is a protection plan and is regarded as the main tool of financial planning. Life is uncertain and it is always good to insure as it would help the other family members or dependents.
The life insurance company insures the person for a specific amount. The amount of premium depends upon how many years and amount to be insured (coverage).
Age also is a factor while considering a life insurance policy. The person who is insured should provide all the information correctly including his health position, as life insurance is an agreement between both the parties and is also called as a contract in good faith.
The insured should provide all the details like age, family history, health etc correctly. The amount of premium is very very low compared to the amount, which would be provided in case of death. Life is uncertain and to protect your dear and...
Life insurance > What is life insurance?
Key to My Heart Key Chains in the Ocean Drive Magazine Lux Lounge for the MTV VMAs
(ContentDesk) September 1, 2005 -- Key to My Heart occupied a suite at the Ritz Carlton in South Beach as part of the Ocean Drive Magazine Lux Lounge for the MTV VMAs. They were one among a handful of high-end companies at the Ritz for a complimentary celebrity shopping spree."When Ocean Drive Magazine selected us, we were ecstatic. The MTV VMAs are a high profile event, taking place in our backyard," commented Jeremy Lurie, Vice President of the Boca Raton, Florida based company since it's inception...
Key to My Heart Key Chains in the Ocean Drive Magazine Lux Lounge for the MTV VMAs
Life insurance > Key to My Heart Key Chains in the Ocean Drive Magazine Lux Lounge for the MTV VMAs
Online Jewelry Retailer Whitefacet.com Puts Up an Impressive Display in Holiday Season Debut
(ContentDesk) December 25, 2004 -- Nothing could be as picture perfect for Whitefacet.com as its successful holiday debut. Whitefacet.com had an average of over 5000 unique vistors over the past two weeks. The unique ring designs coupled with the competitive pricing structure were the novel features of the site. Diamond Rings, earrings and pendants were among the highest selling items. The jewelry items made of 14K White Gold were more popular with online buyers.
Customers were also highly...
Life insurance Term vs Whole Life Insurance
Life insurance > Online Jewelry Retailer Whitefacet.com Puts Up an Impressive Display in Holiday Season Debut
Childhood Obesity - The Cure Begins At Home
Huntington Beach, CA (ContentDesk) February 17, 2006 -- Over the years, the presence of obesity in children has dramatically increased. Many experts attribute the surge to video games, television and computers. Others believe that the problem stems from poor eating habits while others believe it may be a little bit of both. Among other problems, obese children are at higher risk for developing diabetes and heart related illnesses. Professionals are often concerned that obese children will...
Life insurance
Life insurance > Childhood Obesity - The Cure Begins At Home
Life insurance mortgage calculator Term vs Whole Life Insurance
The Hoffman Group Announces New Renovation/Conversion Property
(ContentDesk) September 21, 2005 -- The Hoffman Group, Inc. is a premier real estate and marketing company that represents the finest oceanfront condo resort properties in the Myrtle Beach and North Myrtle Beach market. After several years of defining the pre-sale market for pre-construction projects, The Hoffman Group, beginning in the spring of 2004, has worked also with resort property owners to redevelop...
Life insurance
Life insurance > The Hoffman Group Announces New Renovation/Conversion Property