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- #61
Re: Definitions: Whole Life Insurance Vs Permanent Life Insuranc
All that glitters is not gold!
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All that glitters is not gold!
For a guy who held his license for 20 years, this is beyond elementary. This is not me being pedantic, this is Insurance 101.
If you're offering personal life insurance advice without a license, you're breaking the law. I would tread lightly if I were you.
Technical question about Whole Life cash value...
I don't have much experience with Whole Life insurance. Mostly, I have sold CUNA Mutual whole life. Their Two Question Whole Life (TQWL) product builds a modest amount of cash value. HOWEVER, the cash value is NOT added to the death benefit in the event of the insured's death. The cash value goes back to CUNA Mutual in that event, and only the original death benefit amount (10K, 25K, etc.) is paid out. My question: is this normal for Whole Life products? Is this a distinct feature of "Final Expense" products (although CUNA Mutual never uses the term Final Expense).
Technical question about Whole Life cash value...
I don't have much experience with Whole Life insurance. Mostly, I have sold CUNA Mutual whole life. Their Two Question Whole Life (TQWL) product builds a modest amount of cash value. HOWEVER, the cash value is NOT added to the death benefit in the event of the insured's death. The cash value goes back to CUNA Mutual in that event, and only the original death benefit amount (10K, 25K, etc.) is paid out. My question: is this normal for Whole Life products? Is this a distinct feature of "Final Expense" products (although CUNA Mutual never uses the term Final Expense).