What is No Load Life Insurance? What You Should Know
You may have heard of no load mutual funds, but have you ever heard of no load life insurance? If not, you need to investigate this type of life insurance, as it can reduce your life insurance premium.
What is No Load Life Insurance?
No load life insurance is a whole life policy with no or limited fees. With traditional whole life policies, you buy the policy from an insurance agent who charges annual fees. These annual fees pay for advertising, agent commissions, and other company expenses. With a no load life insurance policy, the fees are reduced or eliminated, leading to a lower premium for you.
There may be an initial fee for setting up your no load life insurance policy, but it will be much less than the fees and commissions associated with a traditional whole life policy.
What Are the Benefits of No Load Life Insurance?
There are two main benefits of no load life insurance:
* Your premiums are lower.
* The cash value of your policy increases more quickly than with a traditional whole life policy, because more of your premium goes into the investment portion of your policy.
Who Needs No Load Life Insurance?
No load life insurance is a good option for people who want the investment benefit of a whole life insurance policy but at a lower cost.
Where Can I Buy No Load Life Insurance?
To find a no load life insurance policy, you can go to an insurance comparison website and complete a form with your insurance information. You will then receive fast quotes from multiple companies that offer no load life insurance policies.
The best sites even have insurance professionals on hand so you can ask questions online about whether a no load life insurance policy is best for you. (See link below.)
Visit http://www.LowerRateQuotes.com/life-insurance.html or click on the following link to get no load life insurance quotes from top-rated companies and see how much you can save. You can also get more insurance tips.
The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written a number of articles on no load life insurance.