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Whole life insurance 'can act as an investment'
August 31, 2010
People who take out a whole life insurance policy have the opportunity to benefit financially.
A whole life insurance policy not only provides peace of mind but can also act as a financial investment, it has been explained.
April Peveteaux, a blogger for The Stir website, explained that life insurance is a sensible idea for most people and a must for those with children to look after.
She added that canny policyholders can make their cover work for them financially.
"If you choose whole, universal, or some types of variable life insurance, you have the option to surrender your policy and receive the cash value," Ms Peveteaux explained.
She went on to state that some policies allow some portion of a premium to be invested into a savings account, with interest accruing over time.
Earlier this month, Mark Patterson, author of The Failsafe Retirement System, told US News and World Report that people who have contributed to a whole life insurance policy for a number of years could choose to use their dividends to cover their premium payments.
Published by Sue Clarkson
Whole Life Insurance
