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No Load Life Insurance


Have you ever heard about no load life insurance? Most of us have been in the following situation: We have been contacted by an outgoing and clever insurance salesman whether we needed a life insurance or not. With his or her special personality as well as years of persuasive training and practice combined with our lack of relevant knowledge, we signed under the insurance policy contract without really knowing what we have purchased and not even what the real costs are. But the worst thing in this sad scenario is that we weren't aware of it before it was too late and the deal already had been settled.

Many types of life insurance policies are often pushed by agents because of the commissions that they generate from them. For a traditional insurance policy the agent could be looking at 10-20 years worth of commissions, which all adds up to higher costs for your when trying to obtain a policy. There is an alternative in no load policies that take out the traditional commission and marketing fees and usually are sold for a flat fee by the broker. Some of these policies are even sold directly to consumers by the insurance companies eliminating the agent altogether.

No-load life insurance is offered mainly through financial brokers who may work with a number of different insurers. They will usually receive a flat fee based on the size and length of the policy. One of the greatest advantages for the consumer is since the policy does not charge commissions and other fees this can mean lower premiums for the purchaser. For variable life insurance, these lower expenses mean a higher percentage of your premium goes to work for you right away, allowing you to build your cash value faster.

If you are interested in finding out more about these types of policies you should consult with your agent or check out the insurance services section of your local bank or financial brokerage. Many times they deal exclusively with no-load policies and can help you setup a policy that will secure your financial future for your family at a much lower cost to you.


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