Article

Whole-life Plan
June 07 , 2012

Whole-life plans are a type of traditional life insurance plan where the plan extends to the entire life of the holder, or till he attains a certain age. A portion of the premium goes to give a small life cover. The rest goes to the insurance companys fund. In return for this, when the policy holder dies or reaches a certain age, his nominee gets an assured sum. This assured sum is typically more-or-less equal to total premiums paid. Even if there are bonus additions in the interim, the returns rarely exceed about 4% in such plans.

Overall, these are very poor on both the investment front (due to very low returns) and the insurance front (since the cover they provide is too small). There are other, far better products available in the market today for both your insurance and your investments.

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