The UGLY Truth Of Whole Life Insurance
Straight to the point, the Whole Life insurance is an excellent option for some and others is NOT.
The dirty fact is that some life insurance agents like to sell whole life insurance to you, just to claim that high commissions.
Ironically, they will keep addressing why whole life has many benefits than other life insurance policies!
They will tell you not to throw your money away on term life that you will never benefit from.
The bottom line is, whole life insurance may not be a good investment for you.
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No matter what! Don’t SKIP Life Insurance Medical Exam
The trick, a No Medical Exam life insurance policy will seemingly cost you more and your whole coverage will be less.
Furthermore, applying for a fully consented life insurance policy with a medical exam will probably cost you less money in the long run.
Let me tell you why! because most life insurance companies demand a medical exam that includes a urine test and blood test, especially for a life insurance policy that is worth a million dollars or maybe more.
But guess what! Some life insurance companies will serve you if you hate needles or even deal with doctors!
Did you know that? Maybe you Don’t NEED a Life Insurance
You truly need to show CAUTION if an agent is keeping to pushing a policy for everyone in your family, including your kids!
The fact is, not everyone needs life insurance! and you should keep that in mind.
You are probably going to waste your money by providing a policy to dependents that may probably be moving out of your home shortly.
Certain Life Insurance Policies will PAY Higher Commissions To Agents
You should have a suspicious mindset when it comes to dealing with a life insurance agent.
That’s Including independent LIFE INSURANCE AGENT.
In general, they will try to sell you an alternative life insurance policy like whole life insurance instead of a term life policy without a solid reason.
Do you know why? just because term life insurance has bigger commissions than a permanent life insurance policy.
Many agents have a lucrative incentive in selling you whole life policies because they obviously will make more money.
The insurance marketplace also supports these practices with little to no remorse.
The truth is, permanent life insurance policies or an annuity is not the best choice for the average American who’s peeking for life insurance.
INDEPENDENT Life Insurance Agent VS CAPTIVE Agent!
Did you know that there is two types of life insurance agents, independent life insurance agent, and captive agent?
To recap, an independent agent doesn’t work for a single company but has access to multiple companies.
On the other hand, a captive agent works with only one company and just offers the insurance policies from that single company.
Thus, you need to make sure to pick an independent life insurance agent who can shop your case from numerous companies.
Simply, you being exposed to multiple companies’ policies will make sure you’re obtaining the best deal available.
In conclusion, a life insurance company that has a well-known name in the insurance industry doesn’t necessarily mean they’re right for you.
Life Insurance Companies SELDOM Pay Out
Relying on your age when you purchase a life insurance policy, most individuals who bought a term life policy will still be alive at the end of the policy.
And for those that don’t have term life insurance, it’s truly necessary to make sure you have protections in place, just in case.
Keep in mind, your life insurance policy must stay in force throughout its life.
You must settle your premium in total during the premium’s set period.
If you tumble behind and do not deliver at the end of the policy period, it will expire and you will have NO life insurance coverage.
Do you know what life insurance organizations do not tell you?
They won’t tell you that you have the choice of decreasing your bonus by simply decreasing the share of your death benefits.