Which Type of Life Insurance Policy Generates Immediate Cash Value?
Which Type of Life Insurance Policy Generates Immediate Cash Value? Having the right type of life insurance policy can help you in many ways. You may want to choose a term policy for example, which will pay you for a certain period of time, or a universal policy, which can offer you a wide variety of options. Or you may prefer a whole life policy, which offers a lifetime of coverage. Whole life insurance Buying a whole life insurance policy is a great way to protect your family and your business. The policy is tax deferred and offers a guaranteed death benefit. It can also be used to supplement your retirement income. Whole life insurance is also a great way to protect your heirs and provide a legacy. When purchasing a life insurance policy, it is important to understand how the cash value of the policy works. It can take up to 10 years for cash value to build up. But once you have accumulated a substantial amount of cash, you can use it to meet your financial needs. You...