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Permanent Life Insurance

Whole Life Insurance



Unlike term insurances, these policies remain active until they mature. Yet, they can lapse due lack of premium payments. These insurances offer the benefits of term policies and also allow growth of capital.


The insurer can only cancel these policies in the event of a fraudulent application. This too must be within a period defined by law. So, Permanent or Whole life policies pay the death benefit whenever the insured dies. Hence, there is no fixed term.


There are 2 main types of whole life insurance companies: Mutual and Stock.

Stock insurance companies - is a  corporation owned by its stockholders or shareholders, and its objective is to make a profit for them.

Policyholders do not directly share in the profits or losses of the company.


Mutual insurance companies - is a mutual insurance company is an insurance company that is owned by policyholders.


Mutual insurance companies provide insurance coverage for its members and policyholders, and its members are given the right to select management.


Mutual insurance companies make mutual fund type investments into portfolios and any profits returned to members as dividends or a reduction in premiums.

Investopedia 

Banatty Insurance

Chantal Banatty

Banatty Insurance

NPN #

8937250

CONTACT US

941-541-2742

North Port, FL, USA

A Licensed Agent/Advisor May Contact You. Consult your legal, tax accountant, financial and insurance professional for more advice. Any voluntarily submitted or collected information is used solely for the purpose of insurance underwriting and price quotes and not sold or used for any other marketing or solicitation purpose. Not affiliated with CMS, Medicare or any other federal and state agency. Content on this site is not intended to provide legal, accounting or tax advice.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options. By providing your contact information for quote requests for material downloads, you grant permission for licensed insurance agent, identified here, to call you regarding your Medicare options including Medicare Supplement, Medicare Advantage, and Prescription Drug Plans.

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