#1 Top Resource for $40,000 Permanent Whole life Insurance
If you are 45 to 50 years old and are looking for a large life insurance policy, this article is the top resource for learning about $40,000 permanent whole life insurance policies.
If you’re younger than 45 and you’re in perfect health, then it’s possible to get whole life insurance coverage up into the millions. Of course it’s going to cost you a lot more.
A $40,000 Permanent Whole life Insurance is the typical amount of insurance coverage you can get if you’re past the age of 50.
The following are aspects of the $40,000 whole life insurance policies we will cover.
• What is permanent whole life insurance policy
• Important whole life insurance information
• Permanent life insurance compared to other forms
• How these policies function
• How are they different
• How to squeeze the most value out of these policies
• Why people get this kind of a policy
• Is this kind of policy a good fit for you
• Insurance company ratings
What is Permanent Whole Life Insurance?
Not all whole life insurance policies are permanent because some of them could change in 20, 30 or 40 years.
With permanent whole life insurance the premium price is never going to change nor is the coverage amount paid out upon your death.
Further, this type of coverage builds in cash value over the years. These are full-coverage policies. They cover natural as well as accidental deaths.
Permanent Whole Life Insurance Policies Compared to Other Types of Coverage
If you are past the age of 50 and are eligible for permanent whole life insurance you really don’t want to consider term life insurance as an option.
If you are in excellent and exceptional health you might be tempted because with term insurance you can get much higher coverage than you would get with permanent whole life insurance for the same premium amount.
The problem with term life insurance is that chances are you will outlive the length of the the policy’s coverage period and you will lose everything you payed in up to that point if you don’t die before it expires.
Yes, it’s cheaper but basically it’s a bet that you will expire before the policy does. They are built by the insurance companies with the extreme likelihood you’re going to outlive them.
In most cases this is exactly what happens and the odds are the policy ends before your death. This means you would then need to be re-insured at a much higher cost because you are now much older and in most cases affected by health issues that come with aging.
This is the main reason why you would want to focus on a $40,000 Permanent Whole Life Insurance Policy instead.
A Pro Tip on maximizing Permanent Whole life Insurance
Assuming you qualify most permanent whole life insurance providers Prescott Arizona will give you the option of adding an accidental death benefit rider to your policy.
This is a very inexpensive addition to your policy. Usually it boosts your costs by about 5% which is a very small increase.
However, it doubles the pay out to your loved if you perish from an accidental death.
A third of deaths are considered accidental. It’s worthwhile to pay a bit more for this rider.
Why do most people get whole life insurance?
There are a number of reasons people get whole life Insurance.
Most of the time it’s going to be for the coverage of burial, cremation and funeral services. it could be a financial gift for the beneficiaries or for paying off a mortgage.
You can get a whole life policy that would dedicate enough money for your monthly mortgage payments for six months or even for 12 months after you pass. The money comes right come right away. Further, it’s tax free to your loved ones.
Sometimes people want to cover miscellaneous bills, unforeseen bills and travel expenses for people that are going to come out for their service. Essentially, the payout is just a check your loved decedents can use in any way they wish or you directed them too before you passed.
It’s completely flexible. Once they receive it, it’s just a check. They just deposit it and use it how they want and there is no penalty for using it one way or another.
Life Insurance Company Ratings
Choosing the right life insurance company with high ratings is one of the most important first steps one must take when considering life insurance coverage.
Life insurance companies are rated according to their financial solvency, duration of existence, financial strength, competitive pricing and customer service
These companies can be rated as A, B or C rated life insurance companies.
Simply put, you don’t want to deal with any life insurance company that is anything less than A-rated.
You want an A-rated life insurance company, preferably one that’s been around a long time, is not going anywhere, not going to go bankrupt, is well backed by investors and is financially solid.
The more stable they are the better price and coverage they can give you.
A great example of a solid A-rated life insurance company is Mutual of Omaha. They have been around a long time and are one of the highest rated life insurance companies in the country.
Another great life insurance company is Gerber Life Insurance. Gerber has phenomenal life insurance choices for seniors, for all adults and for children. They also have one of the best price guaranteed issue life insurance policies in the country.
Guaranteed Life Insurance Policies
Guarantees insurance are great for people between 50 and 80 years old that have severe medical conditions, such as those who are currently dependent upon a wheelchair or need to breath oxygen during the day; those suffering from active cancer or other serious diseases and those who are morbidly obese.
Under those circumstances you need a guaranteed issue life insurance policy that Gerber can provide.
Another great life insurance company offering this type of life insurance policy is Foresters Financial. They are phenomenal and well-priced. They, underwrite these type policies more generously than a lot of other companies.
Even if you have medical problems, they may be able to give you a preferred health rating, which is an above average health rating, which gets your price down.
Royal Neighbors of America is a rising star many people haven’t heard about yet. Even if you have issues with diabetes combined with nephropathy, various forms of anxiety and depression. bipolar and schizophrenia they can still offer you great pricing or if needed, put you in a great program.
American Amicable Life insurance is another great company. They’ve been around a very long time they give great pricing on policies and are wonderful to work with as is America Life Insurance, another great life insurance that has been in business been in business for a hundred years. These are some of the A-rated companies we work with
$40,000 Pure Life Insurance Prices
The following prices are accurate as of the posting of this article. Please know that prices change throughout the year. Click HERE to pull free instant quotes that are 99.9% accurate.
*These prices are monthly premiums for non-smokers. For smoker rates, or for ages outside the ages provided, below, click the above provided link for your quote.
*The following assume average health. Depending upon your health, your price may be different. Contact us for your custom quote.
$40,000 Pure Whole Life Insurance
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