Participating vs Non-Participating Whole Life Insurance?

Whole life insurance policies are a type of permanent life insurance. This means they cover you for your entire life, as long as you continue to pay the premiums. There are two types of whole life policies: participating and non-participating.

Participating whole life policies are more common. This type of policy means that you are part of a group of policyholders who share in the profits of the insurance company. The company uses these profits to pay dividends to policyholders. Dividends are not guaranteed, but they can increase the cash value of your policy and make it easier to pay the premiums.

Non-participating whole life policies do not share in the profits of the insurance company. This means that the cash value of your policy will grow more slowly. However, non-participating policies often have lower premiums than participating policies.

Whole life insurance is a good choice for people who want the stability of a permanent life insurance policy. The two types of whole life policies have different benefits, so it is important to compare them before you decide which one is right for you.

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