Great prices on Life Insurance.
Guaranteed for life, a whole life policy will be renewed every year, regardless of your health for as long as you live, again, as long as required premiums are paid.
Because of the 2 year contestability period (where a life insurance carrier can fight a claim or death benefit) you might better off buying a new or supplemental whole life insurance policy that canceling any term life insurance you may have. If your old life policy was purchased when you were younger, therefore the rates will likely be lower. The cash surrender value on your whole life insurance policy refers to the amount payable to you, the policy holder, upon surrender of the policy. The cash surrender value is equal to the cash value minus surrender charges, borrowing costs, interests or monthly contract charges currently outstanding. If you change a beneficiary, some companies require you include a copy of your marriage certificate or other court document. Recall that whole life insurance coverage remains in force until age 100 as long as the specified premiums are paid on time. With whole life insurance, you obtain protection plus ongoing cash value. With increase level of premiums and cash values, whole life insurance could be the best choice for longer term goals.