There are several types of whole life insurance policies. New York State defines six traditional forms: non-participating (aka "non par"), participating, indeterminate premium, economic, limited pay, and single premium. A newer type is known generally as interest sensitive whole life. Other jurisdictions may classify them differently, and not all companies offer all types. There are as many types of insurance policies as can be written in their contracts while staying within the law's guidelines.
All values related to the policy (death benefits, cash surrender values, premiums) are usually determined at policy issue, for the life of the contract,
Planning Your Future
It's one of the most important things we can do, but it's also the most overlooked. Here at JOSEY INSURANCE we'll help you accomplish your future financial goals every step of the way. Don't worry, we've got you.
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Let's be realistic here. Planning a vacation is way more enjoyable than planning for your future. Vacations are instant, fun and relaxing. But, most of the time, when it comes to planning a retirement, it's built on uncertainty, fear and confusion. Which, in the end, makes everyone want to avoid planning their future financials.
But, if you plan your retirement right, it doesn't have to be so scary. In fact, planning for your retirement can be just as simple as planning for that exciting vacation that's got you up at night in anticipation for it. With JOSEY INSURANCE we can help you plan a financial future that will make you and your family excited for your upcoming years.