Whole life insurance is a type of permanent life insurance coverage designed to last from the time you purchase your policy through the remainder of your life.
Whole life insurance typically offers guaranteed acceptance and builds cash value over time. A portion of each premium you pay becomes part of this cash value. This money accumulates on a tax deferred basis and is available to you (subject to policy terms). Additionally, you can borrow money against the cash value of your whole life insurance policy instead of taking out a loan elsewhere. Usually, this can be done without the waiting periods and credit checks that other types of loans can have. Just keep in mind that if you borrow against the cash value of your whole life insurance policy, you should consider repaying it as soon as possible. If you don't, your loved ones will have a reduced death benefit if you die since unpaid loan balances are deducted from death proceeds.Learn more about the benefits of cash value: https://www.aigdirect.com/about-life/understanding-cash-value-life-insurance
Like most other life insurance products, the cost of whole life insurance is determined by age, health, lifestyle, and other factors that contribute to your placement into what life insurers call a "rate class". In order to determine the exact amount you'll pay for coverage, you'll have to answer a series of questions before receiving a quote.
One advantage of whole life insurance policies is that they offer fixed premium rates and death benefits. That means that from the time of purchase to the end of the policy, your premium payments and death benefit should remain locked in place (so long as you make your premium payments on schedule, and haven't taken out any cash value). Your predictable, fixed-rate premium payments can be made on a monthly, quarterly, semi-annual, or annual basis as agreed upon by you and the insurer you choose. You can also work with an agent to create a customized a premium payment plan that works for your budget.
For some, it's the fixed premiums; for others the cash value attracts them to whole life insurance. But, if you're over 50, 60, or 70 years old there may be another reason to consider whole life insurance from AIG Direct. A commonly chosen type of whole life insurance called Guaranteed Issue Whole Life insurance (GIWL), offers guaranteed issue coverage up to $25k with no medical exam required. Because of its accessibility, GIWL is often chosen by seniors. Also known as "Senior Life" or "Burial Insurance" beneficiaries can use the proceeds to help cover final medical and burial expenses.
Find out more about GIWL policies: https://www.aigdirect.com/life-insurance-products/guaranteed-issue-whole-life-insurance
Get started today by requesting a quote. One of our licensed agents will be happy to answer your questions and work with you to find the right whole life insurance policy for you and your family.
We think what our satisfied customers say about us in their life insurance reviews, says more than any advertising campaign ever could. A life insurance rating from customers is a great way to see what people really think about a company. The reviews you see below are from customers who purchased life insurance policies through AIG Direct.
After a customer buys life insurance from us we ask them for a review. We post all reviews unless their content is obscene, inflammatory or not factually accurate. We ask customers to rate our services and then produce an overall rating as shown below. We encourage you to read our life insurance reviews and see just how happy our customers are.