Whole Life Insurance

Protect your loved ones
Secure their future

What is whole life insurance?

Whole life insurance provides continuous coverage for the entirety of your life, ensuring your family receives financial support no matter when you pass away. With premiums that remain unchanged throughout the life of the policy, it offers a sense of stability and reassurance. Additionally, this type of insurance accumulates cash value over time, which you can access at any time.

How Does Whole Life Insurance Compare to Other Types?

In contrast to short term insurance policies, whole life insurance offers permanent protection with fixed premiums and an increasing cash value. This policy might also pay dividends, further boosting its value.

Who Should Consider Whole Life Insurance?

Whole life insurance is a great choice for individuals looking for long-term financial security, estate planning advantages, and a policy that gains value over time. It provides enduring coverage for your family and can serve as a growing financial asset throughout your lifetime.

Key features of a
whole life insurance policy

When deciding if this kind of coverage is right for you, it helps to understand its core features. Here is a concise overview of what whole life can provide, so you can feel informed and confident as you evaluate your options.

01 Death Benefit

Financially support your loved ones at the time of your passing through a guaranteed payment to the beneficiaries you chose.

02 Cash Value

A portion of your policy that grows steadily, creating a financial resource you can tap into through loans or withdrawals if the need arises.

03 Dividends

Some whole life policies pay dividends, which can be used to increase the cash value, lower premiums, or receive as cash. Once added, dividends are protected from reduction unless accessed by the policyholder.

04 Estate Planning Benefits

By paying for funeral expenses, deducting estate taxes, or guaranteeing that wealth is transferred to future generations, whole life insurance can assist in estate planning.

05 Fixed Premium Structure

Payments can be made in various ways, whether all at once or over time, offering flexibility based on the policy's terms. This approach ensures that you maintain coverage without the need for ongoing payments, bringing you long-term stability and reassurance.

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Frequently asked questions

How does the cash value work in whole life insurance?

With each premium payment, your policy builds cash value over time. This amount grows tax-deferred and can be accessed during your lifetime through withdrawals or policy loans, giving you an additional financial resource if needed.

Is whole life insurance more expensive than other types?

Yes, whole life insurance typically has higher premiums compared to term life insurance. However, it provides lifelong protection, stable premiums, and a guaranteed death benefit which offers long-term financial security.

Can I use the cash value while I’m still alive?

Yes. You can access the cash value by making a withdrawal or taking a policy loan. Keep in mind that unpaid amounts will reduce both the policy’s death benefit and its surrender value.

Are premiums fixed with whole life insurance?

Yes. Whole life insurance comes with level premiums that remain the same for the life of the policy, regardless of changes in your age or health.