Burial Plans & Cancer Coverage

Burial Plans & Cancer Coverage We help the baby Boomer generation navigate the Medicare process from beginning to end. This includes products you most likely lose when you retire.

What Is Whole Life Insurance? Whole life is a type of life insurance contract that provides insurance coverage of the contract holder for his or her entire life. Upon the inevitable death of the contract holder, the insurance payout is made to the contract’s beneficiaries. These policies also include a savings component, which accumulates a cash value. This cash value is one of the key elements of

whole life insurance. Similarities & Differences to Term Life Insurance
Just like term life insurance, beneficiaries exist in a whole life insurance policy. They receive the death benefit upon the contract holder’s death. The most obvious difference, at least superficially, is cost. In some cases, whole life insurance premiums are three to five times as much as term life premiums, at least at the onset. However, term life insurance lasts a “term”: a specified period, usually 10 or 20 years, before the policy expires. The younger you are and the better health you are in, the lower the cost. When the term is up, you can renew the policy, generally at a much higher premium, and depending on your age and health. Whole life insurance premiums, while higher initially, never go up – this is key. The policy is structured to last your entire life, and as long as you keep paying the premiums, the policy will be in force regardless of age and health. The premiums in whole life policies go towards a cash value as well as a death benefit – term life has just a death benefit.

08/28/2016
03/19/2016

We’re in the business of Guiding people through their final expenses so their children don't have to....

Call Lucas for Medigap & Life/Burial plans at 1-800-495-1915 or Luke@Lowcostmedigap.com
02/21/2016

Call Lucas for Medigap & Life/Burial plans at 1-800-495-1915 or [email protected]

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Effingham, IL
62401

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Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm

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(618) 517-9066

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