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Believe it or not
After having major heart surgery, a pacemaker, Marfan Syndrome, and a hernia operation find out what happened when I applied for reasonably priced term life insurance.
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Read my story about getting an online term life insurance quote.
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Whole life provides a death benefit and an accumulating cash value. By definition, it has a fixed premium and a level death benefit to age 100. The premiums don't increase with age, which averages the cost of the policy over your life.
The cash value increases with time until it equals the death benefit at age 100. Whole life is also known as Ordinary (or Permanent) life insurance. This type of policy never has to be renewed or converted.
The cash value is an amount of money that you are guaranteed to receive in the event of policy cancellation. You also have the right to borrow against the cash value on a loan basis.
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