Would my whole life premium change periodically ?

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PostPosted: Mon Apr 17, 2006 5:38 am   Post subject: Would my whole life premium change periodically ?  

My health conditions have changed recently. In spite of that I would like to renew my term life insurance. Can I do it now ? I would also like to know whether my premium for a whole life policy would change periodically or not ? and does that mean that my policy might get cancelled with my changing health ?

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PostPosted: Mon Apr 17, 2006 7:52 am   Post subject: a guarantee for renewal of your coverage  

Here I got an opportunity to tell you that the term life insurance policies usually guarantee a renewal of your coverage . Somehow I get the feeling that you wanna convert your policy into a whole life insurance contract. If you're thinking that, I must tell you that this is the most appropriate time for you to do it. However long your term periods may be they would surely run out one day.


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PostPosted: Mon Apr 17, 2006 8:11 am   Post subject: your premiums would rise  

hey there …lets be clear of one thing for sure…..for as long as you pay the premiums you're gonna get your policy renewed. But be sure that a time is gonna come when this premiums would rise to such costs that would make it unbearable for you to continue with the policy. But I'm sure that you would find a number of policies in the market that would get renewed once every year.

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PostPosted: Mon Apr 17, 2006 8:17 am   Post subject: review your policy periodically !  

My friend, as far my knowledge goes your premiums are bound to remain flat for the entire life of your whole-life policy. This is because your insurer can't ever think of raising the rates till the point of time you keep paying the premiums. Its necessary for you to review your policy periodically. The non-accumulation of the cash value as per your contract may cause a further rise in your premiums to let your policy remain in force.

regards, Evan

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PostPosted: Fri Jul 14, 2006 9:31 pm   Post subject:   

Whole Life Policy Premium never goes up and Cash Value is guaranteed. Unlike the Universal Life Policy.

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Rick Blaine

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