Enhanced Whole Life Insurance: What You Need To Know

Enhanced life insurance is a type of whole life insurance policy. Whole life insurance is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided that the required premiums are paid. Enhanced life insurance uses policy dividends to purchase a one-year term policy and paid-up additions to fund an ever-increasing death benefit. This guarantees a minimum death benefit while allowing cash value to build in the enhanced portion of the whole life policy.

Enhanced life insurance uses policy dividends to purchase a 1-year term policy

Enhanced life insurance is a type of whole life insurance policy. Whole life insurance is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided that the required premiums are paid. Enhanced life insurance uses policy dividends to purchase a 1-year term policy and paid-up additions to fund an ever-increasing death benefit. This is a cost-effective way to meet your death benefit goals and watch your death benefit increase without an extra premium.

Enhanced life insurance consumes your whole life policy's dividends, which you could otherwise withdraw as cash, use to reduce your premiums, or leverage for other purposes. As with all policies, how to best use it depends on your own financial goals. Enhanced life insurance puts your whole life policy's dividends towards a combination of one-year term insurance policies and paid-up additions. The two combined guarantee a minimum death benefit while allowing cash value to build in the enhanced portion of the whole life policy. In contrast, only putting dividends towards paid-up additions cannot guarantee a minimum death benefit because the payout depends on the cash value built up by paid-up additions. The one-year term insurance policies effectively maintain a minimum payout until the paid-up additions' cash value is large enough to meet the desired payout on its own.

Enhanced life insurance is ideal for anyone purchasing a whole life insurance policy and seeking the best premium-to-payout ratio.

Enhanced life insurance lets you put whole life policy dividends towards additional guaranteed life insurance coverage

Enhanced life insurance uses your whole life policy's dividends to purchase a one-year term policy and paid-up additions to fund an ever-increasing death benefit. This is a cost-effective way to meet your death benefit goals and watch your death benefit increase without paying extra premiums.

Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), is sometimes called "straight life" or "ordinary life". It is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. As a life insurance policy, it represents a contract between the insured and insurer that as long as the contract terms are met, the insurer will pay the death benefit of the policy to the policy's beneficiaries when the insured dies. Because whole life policies are guaranteed to remain in force as long as the required premiums are paid, the premiums are typically much higher than those of term life insurance where the premium is fixed only for a limited term.

Enhanced life insurance consumes your whole life policy's dividends, which you could otherwise withdraw as cash, use to reduce your premiums, or leverage for other purposes. As with all policies, how to best use it depends on your own financial goals.

Enhanced life insurance is a cost-effective way to meet your death benefit goals

Whole life insurance is a policy that remains in force for the insured's entire lifetime, provided that the required premiums are paid. It represents a contract between the insured and the insurer that the insurer will pay the death benefit of the policy to the policy's beneficiaries when the insured dies. Enhanced life insurance uses policy dividends to purchase a one-year term policy and paid-up additions to fund an ever-increasing death benefit. This lets you put whole life policy dividends towards additional guaranteed life insurance coverage.

While enhanced life insurance consumes your whole life policy's dividends, which you could otherwise withdraw as cash, it is a more cost-effective way to meet your death benefit goals. This is because it allows you to watch your death benefit increase without paying extra premiums. The one-year term insurance policies effectively maintain a minimum payout until the paid-up additions' cash value is large enough to meet the desired payout on its own.

Enhanced life insurance is ideal for anyone purchasing a whole life insurance policy and seeking the best premium-to-payout ratio. It offers great value for money, with more choice and a lower price.

Enhanced life insurance consumes your whole life policy’s dividends, which you could otherwise withdraw as cash

Enhanced life insurance uses your whole life policy's dividends to purchase a one-year term policy and paid-up additions to fund an ever-increasing death benefit. This is a cost-effective way to meet your death benefit goals and watch your benefit increase without paying extra premiums.

Whole life insurance, or whole of life assurance, is a life insurance policy that is guaranteed to remain in force for the insured's entire lifetime, provided the required premiums are paid, or to the maturity date. As a life insurance policy, it represents a contract between the insured and insurer that as long as the contract terms are met, the insurer will pay the death benefit of the policy to the policy's beneficiaries when the insured dies.

Enhanced life insurance lets you put whole life policy dividends towards additional guaranteed life insurance coverage. This is possible through a combination of paid-up additions and one-year term life insurance policies. This option is ideal for anyone purchasing a whole life insurance policy and seeking the best premium-to-payout ratio.

Some whole life policies allow you to use your policy dividends which you can take as cash, reinvest, or save. However, enhanced life insurance consumes your whole life policy's dividends, which you could otherwise withdraw as cash, use to reduce your premiums, or leverage for other purposes. As with all policies, how to best use it depends on your own financial goals.

Enhanced life insurance puts your whole life policy’s dividends towards a combination of one-year term insurance policies and paid-up additions

Enhanced life insurance is a cost-effective way to meet your death benefit goals. It uses your whole life policy's dividends to purchase a one-year term policy and paid-up additions to fund an ever-increasing death benefit. This means that your death benefit can increase without you having to pay extra premiums.

Whole life insurance is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided the required premiums are paid. The premiums are typically much higher than those of term life insurance. Enhanced life insurance is a way to make the most of your whole life policy's dividends.

Dividends are based on the performance of your insurer or their investment portfolio. With enhanced life insurance, these dividends are used to purchase a one-year term policy and paid-up additions. The one-year term insurance policies effectively maintain a minimum payout until the paid-up additions' cash value is large enough to meet the desired payout on its own. This combination guarantees a minimum death benefit while allowing cash value to build in the enhanced portion of the whole life policy.

In contrast, only putting dividends towards paid-up additions cannot guarantee a minimum death benefit because the payout depends on the cash value built up by paid-up additions. This option is ideal for anyone purchasing a whole life insurance policy and seeking the best premium-to-payout ratio.

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