Below is a quick reference for the benefits of simplified issue whole life:
- 1st Day Coverage. For non-modified plans, you are fully protected the very first day your coverage goes into effect with no waiting period.
- Ease of Issue. No physical exams.
- Premiums will Never Go Up. Lock into a rate at your current age and the cost will never increase regardless of changes to your health and age.
- Benefits will Never Go Down regardless of changes to your health and age.
- All Policies Build Cash Value.
- Benefit is Paid Tax Free for lump sum payments.
- Your Policy Can Never be Cancelled as long as premium payments are made.
- Protected Asset. You will never be forced to liquidate this plan (assuming you have a living beneficiary).
If you have any questions about these benefits of simplified issue whole life, don’t hesitate to send us a message.