Set aside some money to achieve these specific goals with the help of Investment insurance Plans. This plan allows you to experience the joys of life and provide for your family's needs. Click to know more https://www.bajajallianzlife.com/investment-plans/investment-insurance-plans.jsp
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The Whole Life coverage policy provides financial protection during the lifetime of the policy holder. In the event of the unfortunate death, the beneficiary is entitled to receive the death benefits as in the case of a Term Life Policy. However, the Whole Life Insurance also serves as an Investment plan since it also provides additional cash value benefits.
Thus Whole Life Insurance guarantees death benefits and builds tax deferred cash value in return for fixed premium payments. Whole Life Insurance policy plan therefore provides financial security along with future savings. Policy buyers not only protect the future financial liabilities of their family and loved ones but also provide long term financial returns through dividends paid by the insurance provider. The amount of dividends is determined by the performance of the company in the stock market.
The Whole Life plan is most beneficial for individuals who require permanent insurance. The built-in savings element depends on the regular payment of premiums. Policy buyers can also use such a policy type for estate planning purposes. • The only stumbling block in the case of a Whole Life plan is that premiums are relatively much higher as compared to Term Life Insurance plans. But even these high cost premiums would eventually cost lesser than the premiums required to be paid for renewing a Term Life Insurance.
Therefore Whole Life coverage is the best option available to insure the policy holder for the entire lifetime through the payment of affordable premiums. • Finally, the policy holder is required to pay a certain premium amount only on an annual basis. The policy remains in force during the entire lifetime of the policy holder. The premium amounts payable on the insurance are very high since a component of such premium is invested in an interest bearing dividend account that accumulates a cash value. The policy holder can pay future premiums using such cash value, withdraw it or borrow against it. • Thus the Whole Life coverage has several benefits. It not only provides financial protection but also serves as a useful Investment Insurance Plans t tool during the life time of the policy holder. • Article Source: http://EzineArticles.com/2523924
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