Whole life insurance ensures a lifetime of protection for a level premium. Depending on the plan you buy, whole life insurance balances the cost of your chosen coverage over the lifetime of the policy or over a specified period of time - what you pay in the first year is the same as in the last year.

Whole life insurance, like universal life insurance policies consists of four parts:

Mortality Cost - a percentage of the premium that covers the pure cost of the life insurance death benefit.

Administration Cost - a charge for administering the policy and premium tax.

Savings or Investment - the remainder on your deposit after mortality and administrative charges have been deducted that is invested.

Return on the Savings - the interest rate that is credited to the cash value in your account each year.

To learn more about the limited pay UL policy and determine if this product is best for you call MyInsuranceBroker today!