*Welcome to Pars Financials! As a Licensed Life and Health Insurance Agent, and IRS Enrolled Agent, I am Here to Assist You Find the Best Life Insurance that Matches Your Needs. You Can Call me at 954-657-1503 or Fill out the Below Contact Form at Bottom of the Page.
*****Looking to Get a Self Quote on Whole Life Insurance? Click Here to be Directed to Ethos, and Look up the Rates Yourself.
*****Watch the Video Below 
to Capture the Tax and Insurance Implications of Whole Life Insurance. And Read on to Understand More About Permanent Whole Life Insurance.
What is Whole Life Insurance?
Whole Life Insurance is a Permanent Insurance that Stays with You for the Rest of Your Life. It Provides Your Loves Ones with a Death Benefit that They Can Take Advantage of in the Event of Your Unforeseen Absent. You, or Anyone Connected to You by Blood (Like Spouse, or Parents) or By Business (Like a Business Partner or the Company You Work For as the Key Employee) Can Purchase a Whole Life Insurance On You. Whole Life Insurance Comes in Many Variations. Essentially, there is 2 Type of Whole Life Insurances:
Whole Life Insurance with Cash Value Component: This Type Offers You Death Benefit, has a Cash Value Component in it, a Portion of Your Paid Premiums Go into an Investment Subaccount that Accrues Interest. Thus, the Funds Are Available to You to Borrows Against, (Subject to Interest). while You Are Alive as well as the Standard Living Benefits as Outlined Further Down.
Whole life Insurance Without Cash Value Component. This Type Offers You the Same Death Benefit and Standard Living Benefits without Any Cash Value Accumulation Feature. This Type is Much More Affordable while Giving You the Permanent Protection to Rely On.
Why Should I Get One?
It is Important to Understand that the Concept of Insurance Actually Essentially is Helpful for the Vulnerable Low Income Individuals and Family. If You are Young and Healthy (or Relatively Healthy, You Want to Take Advantage of Life Insurance for the Flexible Time Frame that Suits Your Need.
Individuals with Bad Health May Not Qualify for Such a Great Protection.
Let’s Say, You Are 15 Years Away from Paying off Your Mortgage and Want to Ensure that In Case Something Happens to You, the Death Benefit and Living Benefit (Explained Below) is Available to You to Pay off Your Home and You Can Have a Comfortable House with Peace of Mind.
Understanding Whole Life Insurance Living Benefits: Whole Life Insurance Living Benefits Come in Two Sets as Explained Below:
Set 1: Standard Living Benefits: If You Fall for a Terminal Illness, a Critical Illness, or a Chronic Illness, You May be Entitled to a Percentage of the Death Benefit Paid to You in One Sweet Check that You Can Use its Proceeds for Anything that You Desire, from Paying for Your Medical Expenses, Pay for a Holistic Medical Approach not Paid by Health insurance, or Just Go on Vacation with it and Enjoy Yourself.
1. What is Terminal illness Rider (Also called accelerated death benefits)?
Provide Funds if you receive a terminal diagnosis that shortens your life expectancy to two years or less, depending on the policy.
Many insurers add this rider automatically, but there may be a waiting period: the policy must be in force for a specified amount of time before you can access the benefit. Also, any amount that is advanced will be deducted from the benefit amount paid to your beneficiaries.
2. What is Critical illness rider?
This can provide funds to help pay medical expenses for certain qualifying illnesses that have high medical costs and shortened life expectancy – such as a stroke, heart attack, cancer or kidney failure – that aren’t necessarily considered terminal. The illness must lead to inability to return to functioning. As with a terminal illness rider, this money is deducted from the benefit paid out after you die.
3. What is Chronic illness rider?
If diagnosed with a chronic illness that prevents you from being able to complete at least two of six determined “activities of daily living” (ADLs). These ADLs include eating, bathing, using the bathroom, getting dressed, transferring, and continence. Again, any money advanced is deducted from your death benefit.
Set 2: Cash Value Living Benefits:
Borrowing: If You Get a Whole Life Insurance that has a Cash Value Component in it, a Portion of Your Paid Premiums Go into an Investment Subaccount that Accrues Interest. Thus, the Funds Are Available to You to Borrows Against. (Subject to Interest).
Surrender the Policy: You Can Surrender Your Policy to the Insurance Company and Receive Funds According to the Terms of the Insurance Contract
Sell Your Policy: You Can Sell Your Policy to a Viatical Company and Receive an Agreed-upon Amount.
Added Protection: You Can Also Go an Step Further and Take Advantage of the Following Additions to Protect Yourself:
Disability Waiver of Premium Rider: This Rider Allows You to Stop Paying Your Premiums while Keeping the Policy in Force if you Suffer a Disability (a Covered Injury or Illness that keeps you from earning income).
Return of premium rider: This Rider Permits You the Return of the premiums paid into your policy at the end of the term if you don’t pass away, in which case the death benefit is paid out instead) or have another claims