Paid-Up Life Insurance
Life insurance is a responsible investment in the financial security of your family. It's used to protect them in the event of an untimely death of you or your spouse. But there are drawbacks to traditional life insurance policies. Paid-up Life Insurance helps remedy one of these drawbacks.
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Most people do not necessarily enjoy the thought of spending money on a life insurance premium every month for the rest of their natural lives. If you do not want to shell out money for a premium every month, you should consider investing in a paid-up life insurance policy. These policies allow you to set a particular time at which you will stop paying the premium, whether it is a certain number of years, or simply the milestone of a particular age.
Beware of Paid-up Life Insurance Imitators!
If an insurance company does not allow coverage to persist beyond the payment termination point, this is not a true paid-up life insurance plan; it is simply a term life insurance plan. Be aware of the distinction, and don't accept anything that is Paid-up Life Insurance in name only!
Paid-up Life Insurance and Cash Value
With paid-up life insurance, you will be able to use the cash value of your policy past the termination point to cover the policy and allow it to cover you for the rest of your life. Most insurance companies will be able to offer a paid-up life insurance plan, and set it up for you in a similar manner to a whole life insurance plan. You should request a quote through this site to learn the full details of paid-up life insurance.
Life-Insurance-Info.us is not a life insurance broker or carrier, and cannot issue life insurance policies. This site provides free information on insurance providers and coverage options. We are not associated with the companies profiled on Life-Insurance-Info.us and we make no representation, express or implied, that you will receive a quote from a specific company profiled herein. Products and policies may not be available in all states, and product and policy information is subject to change without notice. Please contact the insurance company directly to answer your policy inquiries.