Whole Life Insurance Quotes
You Need More Than Premium Quotes

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I look forward to the day when whole life insurance quotes are more complete. There is quite a bit that is not being shown. Sure there are carriers who give you quotes online but all you get are premium comparisons. In order to truly judge the value of a whole life policy you need much more information. The fact is you need to know a little about the non-forfeiture values. What will happen if you keep your policy for 10 or 20 years? What will happen if you get to a point when you cant pay anymore premiums? Can you get a policy loan, how does that work. Let us look at the things a life insurance agent goes over when he gives you a quote. This will give you a better idea of how helpful this information could be.

• The Death Benefit

  When an agent gives you whole life insurance quotes he first tells you about the amount that would be paid to your loved ones upon your death. This death benefit can be paid in one lump sum or in the form of an income.

• Non-forfeiture Values

  It would be great if the non-forfeiture values of your whole life policy could be shown online when you get your whole life insurance quotes. If you get to a point where you are unable to pay any more premiums for your policy or you simply don't want to continue your policy there are certain options available to you.

  As all whole life policies have cash values you may choose to take whatever cash you have accumulated so far. The company will write you out a check for this amount and you have no more insurance.

  As an option the life insurance would show you that you can elect to have a reduced paid up policy instead of taking the cash value. The money would always be there for you accumulating interest. Upon your death the face amount of the reduced policy would be paid to your beneficiaries.

  Another option you have if you decide you no longer want to pay into your life insurance policy is what is referred to as extended term insurance. What the life insurance company does is to calculate how long your policy will last if your cash values are used to maintain your policy in force. They will tell you something like this. "The full face amount of the policy will remain in force for 5 years and 233 days". If you die within that period of time the life insurance company will pay the full face amount of your policy to your beneficiaries. If you don't die within that period you have nothing to get. This is referred to as "Extended Term Insurance"

• Dividends

  Another good thing that your life insurance agent tells you about when going through whole life insurance quotes with you is how your life insurance dividends work. If your policy earns a dividend you can take it each year in cash, you can leave it to accumulate interest, you can use it to reduce premiums or you can use it to purchase paid up additions. These paid up additions are small single premium whole life policies. It is important to note that dividends are not guaranteed. They depend on the performance of the life insurance company