All Life Insurance Tips

Which company has the best Whole life insurance. I know New York has Custom Whole life insurance.?

I'm thinking about making the switch to whole life from term. New york custom whole life its very attractive.

Public Comments

1. ANY A rated, admitted carrier, is fine. It's not about the company, it's about the product, and the riders on the policy. Which means, you're better off using an agent, who can help you select the riders you need to get exactly what you want, to meet the GOAL.
2. Get an agent to help you, but remember, all cash value/whole life policy's are, are just term insurance with a savings plan attached. When you read the fine print in the policy it will tell you that. Also, when you make the switch, to keep the same coverage, you are probably looking at a 5-10x increase in monthly premiums. Life insurance was not meant to cover you your entire life. Like other forms of insurance, it is meant to cover unexpected losses.
3. Life insurance is actually very flexible. Since I live in California I'm not familiar with the New York regulations, so I suggest you call a nearby insurance agent. http://www.easylifeinsuranceguide.com/New-York-Life-Insurance.html They should be able to assist you.
4. Most companies that sell whole life have very similar products. The main thing that differentiates them is the dividend, which may be higher, lower, or non-existent year to year. No agent or company can promise dividends, for good reason. Previous dividend history has no bearing on future dividend rates, and projections based on current dividend rates will almost certainly be wrong because of fluctuations. You might want to consider what your goals are before you search out a plan. There are many different permanent policies out there besides whole life; and term comes in 35 year, 27 year, and many others.