Straight Life Policy Has What Type Of Premium at Life

Straight Life Policy Has What Type Of Premium. With a straight life policy, a portion of your premium pays for the insurance and the rest accumulates tax deferred in a cash value account. A straight life policy has what type of premium?

A straight life policy has what type of premium? This traditional life insurance is sometimes also known as whole life insurance or cash value insurance. Straight life policies charge a level annual premium for the lifetime of the insured and provide a level, guaranteed death benefit.

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The premium is the amount of money you pay for the policy. M purchases a $70,000 life insurance policy with premium payments of $550 a year for the first 5 years. All whole life policies have three parts: With a straight life policy, a portion of your premium pays for the insurance and the rest accumulates tax.