We wrote an article that described the 3 reasons why whole life insurance is a bad idea. How can we write an article about why whole life insurance is a good idea? Are we talking from both sides of our mouth? No. It is simple: It is your situation that dictates if a whole life insurance policy is needed. Chances are, it is not, but some people and families need whole life insurance.
This article is intended for people who are considering whole life insurance (see our article on why it can be a bad idea, too) and for people who currently have a whole life insurance policy and considering dumping it. Honestly, if you have a current whole life insurance policy, it may not be in your best interest to dump the policy. We will explain more in a minute.
If you don’t know what the phrase “living benefits” means in the context of life insurance, don’t worry; we didn’t either as it was new to us at one point, too. “Living benefits” are benefits available to you during your life, rather than at death (very obvious 🙂 ).
In this article, we give a synopsis on life insurance with living benefits.
What are life insurance riders? Riders are additional benefits that are added to insurance contracts, usually at a fee. They can be valuable as they customize your insurance policy to your own, unique situation. We at My Family Life Insurance like riders for only the RIGHT reasons as you will see. In this article, we discuss, in our opinion, the best life insurance riders. Continue reading The Best Life Insurance Riders
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