What company has the best whole life insurance?

Question

The policy I am looking at gave between an 8% and a 12% return on the cash value over the past 20 years. How do I find out how other companies performed over this period?

Answer 1

Base on your additional details, it seems that you want life insurance and also want investments to have an average rate of return of 12%. The best way to do this is buy term and invest the difference.

I would get a 30 year term and open a Roth IRA (if you qualify for it). I have seen many mutual funds that has perform around 12% and some even near 15% over a 20 year period. But I also have seen many mutual funds that has perform the S&P 500 index. You want to stay away from mutual funds that has perform poorly in the past 10 years. If you invest $100/month for the next 30 years, at a 12% rate of return, you can potentially have $353,000 in your Roth IRA account. This is only hypothetical if your portfolio does earn 12% in the next 30 years, so there is no guaranteed of this number. If it does perform 12%, would you still need life insurance in 30 years from now?

What if you die during the term? Your family will get the death benefit and all your investments. Whole life insurance can only pay out one of the benefits, not both. If you are still going to go for whole life because it provides lifetime protection, be prepared to pay lots of premiums for low amount of coverage. You should know that if you die while the policy is still active, you will lose all the cash value in it and your family will only get the death benefits. If you don't believe me, read someone who does have a whole life policy and it is clearly stated in the policy that only death benefits will be paid out.

Whole life insurance has never given a rate of return of 12%. At most, I seen they have given a guaranteed rate of return of 4%. In fact, I never seen any life policy that has given a 12% return. Why? Even though the investment in the life insurance may earn 12%, the life insurance has lots of hidden fees that lowers that rate of return to maybe 8%. But I only seen these in variable life or variable universal life policies. Plus there is surrender charges on top of that if you cancel the policy.

Answer 2

Why do you want whole life? Have you considered other options? There are mutual funds and other investments that pay the same rate of return. Why not consider them and look into a term policy. You don't state your age of family situation such as wife and/or children. How much coverage do you need? How long will you need it? How can I get the most coverage for what I can afford to spend? Make sure you consider all of these questions before making a decision.

Answer 3

MReward
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Winters Network Em-Pay,

Nicholas

Answer 4

You may want to try a website that compares multiple companies at once to get you the best rate.

Go to: http://www.insureme.com/landing.aspx?Refby=616164&Type=life

Take care,
Casey

Answer 5

You can . For any insurance related problems you can just cisit the following websites . these websites gives you complete information on insurance and company and their plans etc. these are as follows :

http://www.reliancelife.reliancefresh.info

http://www.poonam.reliancefresh.info

http://www.kajal.reliancefresh.info

http://www.joginderkathuria.ignou.info

Answer 6

none. whole life only pays out one benefit, not both. keep them separate and you can save money and get better performance on the savings!

Answer 7

MET LIFE