Whole Life Insurance
modified premium 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…
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what are paid up additions

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…
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father with child on shoulders

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…
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guaranteed universal life insurance

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. In fact, using guaranteed universal life insurance for seniors is likely more affordable than…
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Colonial Penn Review

Colonial Penn Life Insurance Review for 2020

In our effort to educate prospective insurance clients, InsuranceQuotes2Day.com is pleased to offer our 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. The Colonial Penn program specializes in offering…
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lifetime economic acceleration process

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…
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survivorship life insurance

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…
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modified endowment contract

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 the modified endowment contract 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…
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how does life insurance work

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…
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