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Whole life insurance is a type of permanent life insurance that typically features fixed premiums and a level death benefit. Like IUL coverage, whole life insurance policies build a cash value ...
Life insurance can provide a measure of financial protection against the worst-case scenario. Whole life insurance and indexed universal life insurance (IUL) are two types of permanent policies ...
Indexed universal life (often shortened to IUL) is a type of universal life insurance product that offers a death benefit coupled with a cash value account that can be used to pay policy premiums or take withdrawals and loans. [1]
Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), sometimes called "straight life" or "ordinary life", is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. [1]
These policies are often low face value whole life insurance policies, allowing individuals (ages 50-90) to purchase affordable insurance later in life. These may also be marketed as final expense insurance or burial insurance and usually have death benefits between $1,000 and $50,000.
Discover how universal life insurance offers lifelong coverage, cash value growth and flexible premiums, plus the pros and cons of indexed policies.
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