Whole Life Insurance Rates Houston Texas TX
Reader’s Question:
Hey there! If I purchase a whole, life insurance policy with my wife as the beneficiary, can I use the cash value and still have the same death benefit?
Frank
Houston TX
Howdy Frank,
One of the great advantages of whole life insurance policies is the ability to build tax deferred cash value. Whole life insurance also provides a fixed death benefit as long as the premiums are paid. As you know, Frank, life is filled with surprises. If you unexpectedly need to use your cash value, you simply contact you agent or the carrier and place your request.
The beneficiary in a whole life insurance cannot borrow against the cash value. Only the owner of the whole life insurance policy has access to the cash value. Often these funds are used for down payments on housing, for college education or to meet extraordinary expenses.
If the cash value is never utilized, it supplements the death benefit payment when due. It can also be used to offset the premium payments for a whole life insurance policy.
A convenient way to shop for whole life insurance coverage is to complete the inquiry form on this page. After filing the form, you will receive multiple presentations from national companies in the Houston area. Take your time and study these whole life insurance plans at your leisure. The make an informed decision about which carrier is best for you. Good luck, Frank.
Tags: life insurance online, life insurance rates, whole life insurance
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