What is Modified Premium Whole Life Insurance?

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?

what are paid up additions

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?

father with child on shoulders

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

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 […]

Colonial Penn Life Insurance Review for 2020

Colonial Penn Review

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 […]

Modified Endowment Contract (MEC) | The Ins and Outs

modified endowment contract

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 […]

IUL versus Whole Life | Product Comparison

LIRP index options

As investors become more conservative after so much volatility in the market, many are turning to a tax-deferred saving strategy which typically leads to a cash value life insurance product. Life insurance products like Whole Life insurance and Indexed Universal Life (IUL) have begun to establish a significant foothold in the marketplace even though there […]

Whole Life versus Term Insurance | Check out the Differences

indexed universal life

I remember (a long time ago) when I was starting a family and I knew I needed life insurance. I called a friend of mine who had been in the life insurance business for about five years and asked him what he thought I should do. He replied: “do you want term or permanent insurance?” […]

How to Find the Best Whole Life Insurance Rates

no exam life insurance

For most people who know even a little about life insurance, most will agree that it seems like whole life insurance has been around forever. Whole life is the most common type of life insurance and includes the benefits and guarantees that large portions of the insurance marketplace looks for and depend on. Most of […]