Life Assurance is also know as Whole of Life but what is it ( Usa Article )?Page 2

Whole life insurance is most suitable for you, if you want to:

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What is the difference between a Guaranteed and Reviewable life insurance policy?: With a “Guaranteed” policy the Life Company guarantees that it will never increase the premium.....
What is Terminal Illness Insurance?: Terminal Illness Insurance pays out if you are diagnosed with an illness from which you are expected to die within 12 months of diagnosis.
How does my age affect my life insurance premium?: Age is one of the most influencing variables that affect the premium for any given form of life insurance policy.
Will my life insurance premiums increase over time?: The answer to this question depends upon whether you have a normal “Guaranteed” policy, a “Guaranteed indexed linked policy” or a “Reviewable” policy.

. use it as a tax and estate planning vehicle,
. accumulate cash value for a child's education or retirement,
. pay final expenses,
. provide money for a favorite charity,
. fund a business buy/sell agreement,
. provide key person protection.

Before buying the whole life insurance, you need to think carefully about choosing your level of coverage. Too often people make the mistake of insufficiently covering or even worse, financially overextending themselves. This would be a tragic error with ( personal loans ) whole life insurance policy because defaulting on premium payments can mean policy cancellation and the loss of your entire investment. So be careful and make sure you:

. pick a life insurance policy that has a guaranteed cash value starting at the very first year,
. choose the one with the highest cash value in the very first year,
. consider "participating" insurance policies which can pay dividends, increasing your policy's value by boosting both the total cash value and the death benefits, ( life insurance quotes ) beware of any insurance policy that levies "surrender charges" when you cancel.
. if you ever need to stop paying premiums, your policy lets you use the accumulated cash value of the life insurance policy to pay the premiums, thus keeping your coverage current.