No Load Life Insurance Explained

by | Nov 22, 2015 | Cheap Life Insurance


Many people have heard of the concept of a no-load mutual fund but when it comes to life insurance very few people have heard of the no-load life insurance policy. Basically the concept of a no-load insurance policy is to reduce the costs of the premiums associated with the insurance policy through the reduction of the annual fees to the independent insurance agent who then spends the money on things like advertisements and other expenses. No load term life insurance should be one of the cheaper policies you can buy.
While initially the no-load life insurance policy may have some fees associated with it, in its most basic form the concept of a no-load life insurance policy is basically a no-annual fee policy. By doing it this way, the premiums are substantially lower as well as the cash value of the plan actually increases quicker because of the simple fact that a larger percentage of the premiums you pay go directly to the principal of the policy.

Going for a no load whole life policy should, with everything else being equal, trim some of the expense off a whole life policy, which is usually a more expensive variety of life insurance, especially if you are trying to become insured later in your life.

In order to get a no-load life insurance policy though you often have to bypass the local independent agent and go directly to the insurance company itself. Basically this plan is like a manufacturer-direct sale in which you purchase the plan through the insurance company as well as making your payment of the premiums directly to them.

Thanks to the advent of the internet, buying no-load life insurance policies is much easier than it used to be. In general, this type of plan allows you to purchase the plans from the insurance company much like the agent does and for about the same price minus the “bulk” discount for multiple plans.

So if you are looking to get a whole life insurance plan but you want to save some money in the payment of your premiums then you will most likely want to get yourself a no-load life insurance policy which can only be obtained directly through the insurance company offering the plan. The best part about it though is that most insurance companies also offer company representatives which can help you select the right options that you are in need of and all of this can be obtained online with simplicity.

Most Recent Articles

Insurance Settlement Basics

A life insurance settlement can be defined in a few different ways, but normally it is simply the sum of money that one's heirs receive after a policyholder passes away. After you responsibly pay your monthly premiums and/or maintain the cash value amount associated...

read more

Whole Term Life Insurance Ideas

When you choose a life insurance policy, your first decision is to pick from term or whole life insurance (or another form of permanent life insurance). Term life insurance is cost-effective and will give benefits to your family if you die but if you fail to die (so...

read more

Life Insurance Sales Leads

Obviously finding a way to quickly and systematically get high-quality life insurance leads is what it is all about when it comes to life insurance sales. Before the Internet became such a huge force for change, agents employed all sorts of creative and interesting...

read more