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Most employers offer voluntary term life insurance rather than voluntary whole life insurance. The coverage may be portable if you leave your employer, depending on the policy.
Whether you prefer term or whole life insurance will depend on many factors. Find out how these types of life insurance differ and what each option entails.
Whole life insurance. Whole life insurance is the most basic form of permanent life insurance coverage. With traditional whole life insurance, both the premium and death benefit typically remain ...
Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), sometimes called "straight life" or "ordinary life", is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. [1]
Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions.
Voluntary life insurance is a type of insurance offered as part of a group insurance policy that typically covers employees in the event of their death. It is an additional benefit offered by ...
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