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Whole Life Insurance Coverages and Options

Whole life is the most common type of permanent life insurance. With whole life insurance, your premium payments remain the same over the life of the policy. You can choose how often you’d like to make premium payments, too – annually, semiannually, quarterly or monthly. Some whole life policies can be paid up after a certain number of years. When you purchase a policy, you’ll know how the cash value will grow over the life of your policy.

Advantages and disadvantages of whole life insurance
  • There are a number of reasons to consider buying whole life insurance. It’s easy to understand. The payments are the same every month. And some whole life policies can be completely paid for after a certain number of years. Because your policy earns a fixed rate of interest, it’s easy to predict the growth of your cash value over time.
  • Whole life insurance is designed for the long-term, so before purchasing, be sure to think about your ability to make premium payments consistently over the life of the policy. While it’s predictable, whole life insurance isn’t very flexible. You can’t customize it. But, because it’s so predictable and dependable, whole life insurance may be a good option for you.
  • Keep in mind that as your life changes (for example, marriage, birth of a child or a job promotion), so will your life insurance needs. You should weigh any associated costs before making a purchase. Life insurance has fees and charges including costs of insurance that vary based on the insured person’s gender, health and age. There are additional charges for riders that customize a policy to fit your individual needs.

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(330) 722-4444

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Lazor Insurance and Financial Services
404 North Court Street
Medina, Ohio 44256

(330) 722-4444 Phone
(330) 722-6161 Fax

Securities offered through Nationwide Securities, LLC., member FINRA, SIPC. DBA Nationwide Advisory Services, LLC. in AR, CA, FL, IL, NY, TX and WY. Representative of Nationwide Life Insurance Company, affiliated companies and other companies. Representatives of Nationwide Securities, LLC may only conduct business with residents of the states in which it is properly licensed and/or registered. Please note that not all of the products and services that may be mentioned are available in every state. Nationwide, the Nationwide N and Eagle, Nationwide is on your side, and other marks displayed in this message are service marks of Nationwide Mutual Insurance Company or its affiliates, unless otherwise disclosed. ©2015 Nationwide.

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