Loading the player...

DEFINITION of 'No-Load Life Insurance'

A type of life insurance that charges much lower fees and expenses than conventionl life policies. This is due primarily to the absence of a commission for the selling agent. No-load life insurance mirrors traditional life insurance in all other aspects.

BREAKING DOWN 'No-Load Life Insurance'

No-load policies allow cash value to accumulate faster inside the policy because of their lower cost. However, although its lower cost allows no-load life insurance to provide an affordable alternative to lower-income policyholders, carriers of no-load policies should be examined for financial stability. No-load policies also typically offer very little in the way of customer service.

RELATED TERMS
  1. Whole Life Insurance Policy

    A life insurance contract with level premiums that has both an ...
  2. Adjustable Life Insurance

    A type of life insurance that combines features of term and whole ...
  3. Universal Life Insurance

    A type of flexible permanent life insurance offering the low-cost ...
  4. Variable Life Insurance Policy

    A form of permanent life insurance, Variable life insurance provides ...
  5. Wholesale Life Insurance

    A type of employer-sponsored protection against the loss of income ...
  6. Life Insurance

    A protection against the loss of income that would result if ...
Related Articles
  1. Retirement

    Make No-Load Annuities Your Viable Alternative

    These alternative retirement funds provide diversification with no fees, so what's the catch?
  2. Insurance

    Choosing The Best Life Insurance Company For You

    What to consider before you choose the life insurance company that can give you the policy you need now – and meet your needs as your life evolves.
  3. Personal Finance

    The Best Life Insurance for Military Families

    Two of the most common types of life insurance are term and whole life. Here's why the latter isn't a good idea for most military families.
  4. Insurance

    Whole or Term Life Insurance: Which Is Better?

    Learn the difference between term life insurance and whole life insurance. Understand when it is beneficial to buy each type of life insurance.
  5. Financial Advisor

    Is Life Insurance From Your Employer Enough?

    Covering the needs of the ones you would leave behind is not easy. But efforts to secure a life insurance policy outside of work should pay off.
  6. Insurance

    Getting Your (Insurance) House in Order

    From starting a family to retirement, insurance can play a role in taking care of financial needs. This piece looks at some of the choices you can make.
  7. Insurance

    What Is the Best Age to Get Life Insurance?

    Learn about the optimal time for purchasing personal life insurance and why delaying the buying decision may have costly consequences.
  8. Insurance

    What's Better: Whole Life or Term Insurance?

    Life insurance can be a difficult decision to make, especially for a young adult. Here's a look at the benefits and costs of getting whole life insurance.
  9. Financial Advisor

    Which Life Insurance is Right For You?

    Consumers have choices when it comes to life insurance. Knowing your future needs for cash or retirement can make the difference in what you select.
RELATED FAQS
  1. Some of the Best No-load Funds to Consider

    Learn about the most well-known no-load funds. No-load funds are unique in that there are no costs to buy and sell nor any ... Read Answer >>
  2. What is the difference between a no-load mutual fund and a fund that has no front ...

    Learn the difference between a no-load mutual fund and a mutual fund that has no front load, and understand why each method ... Read Answer >>
Hot Definitions
  1. Money Market

    A segment of the financial market in which financial instruments with high liquidity and very short maturities are traded. ...
  2. Block (Bitcoin Block)

    Blocks are files where data pertaining to the Bitcoin network is permanently recorded.
  3. Fintech

    Fintech is a portmanteau of financial technology that describes an emerging financial services sector in the 21st century.
  4. Ex-Dividend

    A classification of trading shares when a declared dividend belongs to the seller rather than the buyer. A stock will be ...
  5. Debt Security

    Any debt instrument that can be bought or sold between two parties and has basic terms defined, such as notional amount (amount ...
  6. Taxable Income

    Taxable income is described as gross income or adjusted gross income minus any deductions, exemptions or other adjustments ...
Trading Center