10 Payment Permanent Whole Life Insurance
With 10 pay life insurance you only pay your life insurance premiums for ten years. In life, there are a few guarantees. Read on to learn why a Ten Payment Whole Life policy may provide you with the guarantees you’re looking for when it comes to protecting your financial future.
IS IT RIGHT FOR YOU?
Ten Payment Whole Life may be an excellent choice for you if:
· Consider whole life insurance to be a very valuable part of your financial strategy and are looking for death benefit and cash value guarantees, but want to limit your premium payment period
· Are looking for a whole life insurance product that provides a cash value accumulation within a limited period of time
· Are a business owner who is looking to protect the long-term future of your business – but don’t want to carry the premiums on your books for an extended period of time
· Wish to complete your whole life insurance payments before you retire · Are looking for a vehicle to fund estate taxes, provide an inheritance for your heirs or a charitable gift upon your death
· Wish to purchase whole life insurance for your child or grandchild – but want to pay for the policy over a relatively short period of time
When you purchase 10 Pay Whole Life Insurance policy, you lock in your premium, which is based on the insured’s age at policy issue. So, unlike term or other kinds of life insurance, you won’t have to worry about premiums increasing as time passes. As long as you pay your premiums as scheduled, your policy will stay in force to provide a death benefit, assuming you have not borrowed or withdrawn money from your policy.