William Penn Life, 2014 (49. évfolyam, 1-12. szám)
2014-11-01 / 11. szám
Whole Life Insurance Coverage for your entire life ABOUT 30 PERCENT of all households in the U.S. have no life insurance, according to LIMRA, an association that provides research, consulting and other services to insurance and financial services companies worldwide. This means a lot of people are leaving their families' financial future to chance. Your family does not have to be one of those at risk. At WPA, we believe that everyone should have life insurance coverage in order to protect their family. One of the ways you can protect do this is by selecting one of our whole life certificates. Whole life insurance provides lifelong protection and cash value accumulation Premiums are payable during the life of the policy. Even if your health deteriorates and you become uninsurable, you can keep your policy in force at the same premium rate and accumulate a guaranteed cash value. The advantages to having life insurance with cash value accumulation become more obvious the longer you own the policy. As the cash value accumulates and grows, it can be used for financial needs that may occur. A whole life insurance policy can be surrendered for the cash value of the policy, but that may not be the wisest thing to do. That's because most life insurance policies are purchased, in part, to cover end-oflife expenses, meaning your family will be protected and not burdened with such expenses. Plus, if you cash out the policy, you may then owe taxes on the income. And, finally, it may be difficult and more expensive—or even impossible—to obtain a new life insurance policy at an advanced age because that would depend on your current health and life circumstances. With a whole life certificate, you also may take advantage of the accumulated cash value by taking a loan. These loans are not subject to taxation as long as the policy is not surrendered or allowed to lapse while the loan is outstanding. If you take a loan from your whole life certificate, your death benefit will be reduced by the amount of the loan (plus interest), but your beneficiaries would still receive the remaining proceeds as long as the policy is still in force. WPA has outstanding whole life insurance plans to offer our members and those who would like to become members. □ Moneywise with Jeff DeSantes i I J 1 1 S If you do not have a WPA agent, please call the Home Office at 1-800-848-7366, ext. 120, and we can assist you in finding an agent who will seo/e you and your family by offering: • A Review of Your Needs • Life Insurance Protection • Tax-Deferred Annuities • • Juvenile Insurance Plans • Special Fraternal Benefits • 4 0 November 2014 0 William Penn Life
