About Whole Life Insurance

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Whole life insurance is nothing more than a contract between a person and an insurance company based upon an agreed amount of dollars being paid to that person when they die. Learn about the monthly premiums used in whole life insurance with help from a licensed insurance agent in this free video on life insurance.

Part of the Video Series: Life Insurance Options
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Video Transcript

Hi my name is Bill Rae and I'm a Licensed Life Agent and I have been in the business for well over 20 years and the question is what about whole life? Interesting question. First of all let me explain whole life as all life insurance is based on very certain data. For instance whole life is simply nothing more than a contract between you and an insurance company upon an agreed amount of dollars being paid to you upon your death. How do they determine those costs? Well in whole life many people will tell you it is not really worth it these days but there are places for whole life. Whole life simply means that you are paying a certain monthly premium or annual or however you paid it, a preset amount of dollars so that it will carry forward to a certain time frame. All life insurance is a certain dollar per annual from 0 to 100. That's how it has always been in America, getting a little better these days as we are living longer but that is whole life. My name is Bill Rae and I'm helping you build wealth.

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