However, you may want to take a closer look at the type of life insurance coverage you own cole haan nike air . Most Americans who have life insurance only carry the group coverage offered by their employers, according to a 2008 LIMRA International study.
Unfortunately, this type of coverage typically ends as soon as you leave that job or retire Nike High Heels .If you want to make sure your family is covered well beyond your working years, you may want to consider permanent or "whole life insurance.
Whole Life 101While term insurance typically only covers you for 15 to 20 years, permanent or whole life insurance remains in effect for your entire life as long as you keep paying premiums nike dunk sb low . For the first few years after you purchase a permanent life insurance policy, your premiums will probably be higher than the actual cost of insurance protection.
Because you are contributing these excess premiums, the policy can accrue cash value Nike Air Foamposites. (That's why permanent life insurance is also known as cash-value insurance.
) You can borrow against this cash value for a number of reasons, such as to pay off a mortgage, cover your child's college tuition or supplement your retirement income. Of course, these policy withdrawals or "loans will reduce the cash value of your policy by the amount of your outstanding loan balance plus interest. You could even use your cash value as collateral for a business loan.Generally, once a permanent policy is in force, your premiums will remain level. This ensures continual protection for your family as you age, even if your health becomes poor.
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