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All You Need To Know About Whole Life Insurance

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Sophi

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Apr 17, 2007, 8:26:57 AM4/17/07
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Whole life insurance, sometimes called straight life or permanent
life, is protection that can be kept as long as you live.
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Sophi

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Apr 17, 2007, 8:28:38 AM4/17/07
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izzy

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Apr 23, 2007, 3:31:29 AM4/23/07
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Sophi wrote:
> Whole life insurance, sometimes called straight life or permanent
> life, is protection that can be kept as long as you live. ...

Actuarially speaking, most whole-life policies are actually endowment
at age 95 or 100. That is, they are based on life tables whose oldest
age is 95 or 100. So, if you live to that age, you can actually
collect your "whole life" insurance at that time while still alive. Of
course, most insurance companies are willing to keep the endowment
proceeds (usually at a nominal rate of interest) until applied for by
your beneficiaries after your death.

Verify that your beneficiaries are still alive.

Izzy Cohen (seriously), CLU, FLMI
ex-actuarial analyst, Gulf Life Insurance Co.

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