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Arizona Whole Life Insurance Basics - Read This Before You Buy an AZ Whole Life Insurance Policy

So you're scanning the Internet for information on Arizona whole life insurance basics? Read this before you buy an Arizona whole life insurance policy. Buying life coverage is one of the most important tasks you'll undertake in your lifetime to adequately protect the ones you love so you want to make sure you get it right. Whole life is a popular type of insurance product for many people but it is truly only a good fit for a select few. Read on to how this type of policy works, who it is designed for, the pros, and the cons.

How Does Whole Life Insurance Work?

Whole life is the most basic type of life coverage. It is also the most permanent. Depending on your age and your health, whole life will allow you to purchase a specific death benefit that supports a specific cash value which is guaranteed for as long as you live and pay the premiums on a timely basis. Your premiums will be higher than if you bought a term life policy, but your rates are absolutely guaranteed never to increase.

Who Should Buy Whole Life?

Whole life is for people who need:

A lifetime of insurance protection

To know that their premiums will never go up

The safety of the policy's guarantees

The Pros

There are a few perks to whole life. A minimum death benefit is guaranteed. Your premiums are guaranteed to never increase, most policies accumulate interest builds as cash value and you can withdrawal some of your cash value if you need it.

The Cons

Usually, your premiums are going to be higher than you may like to pay because your rates are guaranteed to never increase. Loans and withdrawals will generally reduce your death benefit.

Compare Arizona Whole Life Insurance Quotes Online

So now you know a bit more Arizona whole life insurance basics. "Read this before you buy an Arizona whole life insurance policy," probably makes a lot more sense and sounds like great advice. So what now? Now that you know all about the basics of whole life, just start shopping! Be sure and compare the rates for AZ whole life vs. term life and be sure that you compare rates from at least 3-5 different companies.

Get started comparing life insurance quotes online now!

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