What is Whole Life Insurance?
There are few ways that you can assure a financially secure future for your family at the same time
as provide you with a useful form of investment for your personal income. One method is purchasing a
whole life insurance policy from a reliable insurance company, such as R.H. Nicholson & Co. A whole
life insurance policy is a unique resource that gives coverage to a chosen beneficiary in the event
of your death, while also providing you with a savings account that grows over time, so long as you
pay your premiums.
What are the Benefits to Whole Life Insurance?
- Fixed Premiums: At R.H. Nicholson & Company, we provide our customers
seeking a whole life insurance policy a fixed, flat rate for the premiums, providing them with
the insurance they need and matches precisely with their budget.
- Cash-Value Benefits: As discussed before, a whole life insurance policy
includes a savings account that will build up in interest over the years. This happens when a
policyholder sends payment in an amount greater than their insurance premium, with the remainder
being added to the account. They can then access the account at a later date for their own
purposes, ostensibly making it a source of equity for them. This is in addition to your
beneficiaries receiving compensation from your insurance.
- Lifelong Coverage: Unlike other life insurance policies, such as a term life
insurance, whole life insurance is permanent, with coverage lasting the insured party’s
lifetime.
- Assured Financial Stability: The long-standing coverage mentioned in the
previous section has the added benefit of ensuring your family and loved ones’ financial
stability beyond your passing. While term life insurance holds the slight risk of the insured
individual’s death occurring after their term, resulting in zero payouts for their beneficiary,
whole life insurance guarantees the aggrieved will be able to pay for any outstanding expenses
after their loved one’s death.
R.H. Nicholson & Company: Practical Whole Life Insurance for VA, MD, & DC
Our desire at R.H. Nicholson & Co. is to help our customers receive the best possible insurance plans
that result in smart, long-term benefits for their families and themselves.
Contact us at
703-261-6100 to learn more about our whole life insurance and additional policies.
