Whole Life Insurance Archives | Ogletree Financial

Whole Life Insurance

What is Modified Premium Whole Life Insurance?

Modified premium whole life insurance is very similar to traditional whole life insurance. It is a form of permanent insurance, meaning that it is intended to be kept for a person’s whole life, as opposed to insurance for a temporary need, such as term insurance. Modified Premium Structure Unlike traditional whole life insurance…

What are Paid-Up Additions on a Whole Life Policy?

In order to understand what paid-up additions are on a whole life policy, it’s essential that we first understand what dividends are, since dividends are what purchases the paid-up additions. Whole Life Dividends Whole life insurance policies are a class of what is referred to as “participating policies” because policyowners participate in the…

Whole Life or Guaranteed Universal Life | Which is best for You?

When searching for a life insurance policy, the choice typically comes down to either a permanent insurance policy or a term insurance policy. The difference between the two is straightforward. Permanent insurance, like guaranteed universal life and whole life, is insurance you intend to keep the rest of your life. Term insurance is meant to…

The 10 Best Guaranteed Universal Life Insurance Companies in 2020

Guaranteed Universal Life Insurance (GUL) provides certainty in uncertain times. Many people want the assurance that the full face amount of their policy will always be available to their beneficiaries; GUL provides that as long as scheduled premium payments are made. Not only is GUL perfect for individuals that want to meet their financial obligations,…

Colonial Penn Life Insurance Review for 2020

If you watch any television at all, it’s likely that you’ve seen Jeopardy host, Alex Trebek, talking about guaranteed acceptance insurance from Colonial Penn Life Insurance Company. Colonial Penn specializes in offering and providing guaranteed acceptance life insurance for seniors age 50 to 85, in most states, who may or may not have medical issues…

Lifetime Economic Acceleration Process | LEAP

Accumulating wealth for retirement can be stressful and confusing, there’s no doubt about it. Research reveals differing opinions, pros and cons, and scam declarations, with many articles pitching a product in the author’s conclusion. How do you know what you don’t know? We’ve previously discussed Look before you LIRP, the Power of Zero, the Volatility…

Survivorship Life Insurance | What, When, Why, and How?

Married couples have the option of buying individual life insurance policies or a joint policy known as survivorship or second-to-die life insurance. Although in most cases, an individual policy may be more appropriate, there are circumstances when survivorship life insurance is the better choice. Most people know what survivorship life insurance is, but are unsure…

Modified Endowment Contract (MEC) | The Ins and Outs

In the many articles we have provided regarding Indexed Universal Life Insurance, we have on many occasions mentioned modified endowment contracts but have not had an in-depth discussion. In this article, we are going to drill-down into the modified endowment contract (MEC) and discuss the ins and outs so that policyholders will understand whether a…

How Does Life Insurance Work?

Most people have a vague idea of how life insurance works but generally they don’t understand the fundamentals of a life insurance contract and how the insurance company can make a profit when they are frequently paying out more than they’re taking in. To understand how life insurance companies profit from insurance contracts, you have…