[BOOK|TXT] An Extraordinarily Ordinary Life

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Extra-ordinary whole life is a brand name for whole life insurance used by at least two life insurance companies. The Hartford's vision of Extraordinary Whole Life is a non-participating whole life policy. This means that the company does not pay dividends to the policy. Cash value is accessible through policy loans. However, premiums made to the policy are flexible and more premium may be added to the policy than the contractually guaranteed minimum premium amount. Northwestern Mutual offers an extraordinary whole life policy that allows you to split whole life and traditional term life insurance, blending the two policies together. The result is a policy that offers permanent life insurance protection through a permanent whole life base policy, but which also has costs that are lower than a whole life policy due to the addition of term life insurance to the base policy. Over time, the term life component of the policy is converted to whole life insurance. In both cases, the extraordinary whole life policy is a whole life policy with additional features not normally found with most whole life policies. In the case of The Hartford, you get the benefit of adding more premium than what is required by the policy. This translates into higher cash value amounts than you would otherwise be able to get from a whole life policy. When deciding on whether to purchase a policy that has been branded as extraordinary whole life, make sure you read over the product literature from the issuing company. In addition to this, ask your life insurance agent to explain to you An Extraordinarily Ordinary Life the policy differs from any other type of whole life policy. There should be a significant An Extraordinarily Ordinary Life to you. Realize that you'll have to pay premiums that are higher than other types of life insurance, at least in the early years of the policy. You must make a budget that accommodates these higher premiums over the long-term.

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