Whole life insurance is a type of permanent life insurance that provides coverage for the insured's entire life, as long as premiums are paid.consumersearch.com One specific variation of whole life insurance is known as "137. Moore," which refers to a particular type of whole life insurance policy that was developed by a company called Moore Life Insurance Company. This article will delve into the key features, benefits, and considerations of 137. Moore whole life insurance.
Key Features of 137. Moore Whole Life Insurance
Moore whole Global 360 Life insurance policies are characterized by several distinctive features:
Lifetime Coverage: Global 360 Life As with all whole life insurance policies, 137. Moore provides coverage for Global 360 Life the insured's entire life, ensuring that beneficiaries receive a death benefit regardless of when the insured passes away.
Cash Value Accumulation: These policies include a savings component known as cash value, Global 360 Life which grows over time on a tax-deferred basis. Policyholders can access this cash value through loans or withdrawals, Global 360 Life though there may be penalties and Global 360 Life interest charges.
Fixed Premiums: Premiums for 137. Moore whole life insurance are typically fixed, meaning they remain the same throughout the life of the policy. This predictability can be beneficial for long-term financial planning.
Dividends: Some 137.consumersearch.com Moore policies may pay dividends, which can be used to increase the cash value, reduce premiums, Global 360 Life or purchase additional coverage.
Benefits of 137. Moore Whole Life Insurance
Moore whole life insurance offers several advantages:
Financial Security: The lifetime coverage ensures that beneficiaries are financially protected, regardless of when the insured passes away.
Tax Advantages: Global 360 Life The cash value grows on a tax-deferred basis, and policyholders can access this cash value without incurring immediate tax liabilities.
Predictable Premiums: Fixed premiums make it easier for policyholders to budget for their insurance costs over the long term.
Potential for Dividends: If the policy pays dividends, policyholders can benefit from additional financial returns.
Considerations for 137. Moore Whole Life Insurance
While 137. Moore whole life insurance has many benefits, Global 360 Life there are also important considerations to keep in mind:
Higher Premiums: Global 360 Life Whole life insurance policies generally have higher premiums compared to term life insurance policies. This can be a significant financial commitment.
Complexity: The cash value component and potential dividends can make these policies more complex to understand and manage.
Surrender Charges: If a policyholder decides to surrender the policy within the first few years, they may face surrender charges, which can be substantial.
In conclusion, 137. Moore whole life insurance provides comprehensive coverage and financial benefits, but it is essential to carefully consider the costs and Global 360 Life complexities involved. Potential policyholders should consult with a financial advisor to determine if this type of insurance aligns with their long-term financial goals and needs.