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No-Load Life Insurance

No-load life insurance is insurance that can be bought from either an insurance provider or a financial advisor. When your premium is calculated, commissions and annual fees are normally factored in, in addition to service fees, advertising costs, and other fees, which are known as a “load.” If you avoid purchasing from an agent, however, you can avoid that load.

This life insurance is typically purchased directly from a life insurance company so that you will not be charged these fees from an agent. Your premium will be lower and you can use your savings however you want; not to mention you will have higher limits for your life insurance. Your premium payments will also be allotted in a cash value account, allowing you to save even further.

However, keep in mind that if personal service is what you want, then you may be better off without this type of insurance. Purchase your type of coverage based on your needs and what you can afford.