Whole Life Insurance Myths
Ask your representative
to help dispell Whole Life myths
People have a lot of reasons for not purchasing Whole Life insurance, but at the end of the day, the majority of reasons are just myths. Below, you'll find the most common myths people hold onto and the real truth behind them:
Whole Life policies are a ripoff. I would be better off buying Term and investing the difference. This myth comes from talk shows and magazines looking for a quick, bite-size answer to a complex question. There are many components a person must analyze when purchasing life insurance, including determining the right amount of coverage.
Whole Life policies are very expensive. Whole Life policies are more expensive than Term policies, but premiums vary sharply from one carrier to another. Case and point, $100,000 of non-participating 20-year pay Whole Life coverage for a 26-year-old, male non-smoker is $49.23/month with Empire Life and $71.55/month with BMO. You can get an instant Whole Life Quote at our free Instant Quote Page.
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Post from: Life Insurance Canada
