(PRWEB) November 24, 2013
By using the investment feature of a whole life insurance policy, clients can save money to pay for college costs. Whole life insurance comes with an account which generates cash value. The cash value grows at a fixed rate overtime and it can be used to pay for any expenses the policy holder may have.
Whole life insurance is a policy that provides permanent coverage. This means that the insured will be covered until the very end of his or her life. Of course, in order for the policy to remain active, regular premium payments have to be made.
The other extra feature is the investment component. Whole life insurance policies build cash value by deducting a part of premiums and investing that amount. The generated interest will accumulate regularly into the policy’s account at a fixed rate.
By purchasing a policy at a younger age, clients can use their policies to generate enough savings as to cover a part or the entire cost of college tuition costs. Withdrawing money from the policy’s account is tax-free, as long as the amount does not exceed the policy’s value.
Details concerning the rate at which the policy generates money, the time period after you can withdraw as well as other important aspects will be discussed with the agent. Clients need to acknowledge the importance of comparing quotes and of getting informed about the product they wish to purchase. Online Insurance marketplace offers free, user-friendly services for comparing quotes as well as providing useful advice and tips.
“Whole life insurance is a product with many investment opportunities and it can help people secure a high-quality education for their children!” said Russell Rabichev, Marketing Director of Internet Marketing Company.
Online Insurance Marketplace is an online provider of life, home, health, and auto insurance quotes. It is unique in that this website does not simply stick to one kind of insurance carrier, but brings the clients the best deals from many different online insurance carriers. This way, clients have offers from multiple carriers all in one place, this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.
For more information, please visit http://wholelifelifeinsurance.org.