What is non-participating whole life insurance?
Non-participating whole life insurance is one of two main types of whole life insurance, the other being participating whole life. In a non-participating whole life contract, all of the cash values and death benefits are fully guaranteed, but will never change. If the insurance company’s actuarial projections are off, the company must make up the difference. If their projections are to their advantage, they get to keep the difference. These types of policies are very inflexible and are much more expensive than a universal life insurance policy with the same death benefit. More cash value is accumulated than universal life, but a higher premium is required to generate those cash values. A universal life insurance policy can guarantee death benefits to age 121 at the lowest possible premium, and may be a better alternative for someone interested in whole life insurance.
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