What is whole life insurance?

Unlike term life insurance that protects you for only a specific duration, whole life insurance offers protection throughout your lifetime. It’s the most basic type of permanent life insurance that offers consistency along with some predetermined, guaranteed cash value growth.

Consistent premium payments

Whole life insurance is typically more expensive than term life policies, but the premium amount is fixed for the life of the policy.

Consistent cash value growth

Your whole life insurance policy receives guaranteed cash value growth.

Tax-free death benefit

The payout your beneficiary receives if you die is typically tax-free and has a steady value throughout the life of the policy.

Policy customization

You can customize a whole life insurance policy with a variety of optional features for an additional charge.

Loan and Withdrawal Options:

Policy Loans: Policyholders can take loans against the cash value of the policy with relatively low interest rates. These loans do not require credit checks and can be used for various needs. Withdrawals: Some policies allow partial withdrawals from the cash value, although this can reduce the death benefit.

Who may benefit from whole life insurance?

Whole life insurance is designed for people who are looking for: A policy that lasts your whole life Premiums that stay consistent over time. A guaranteed, tax-deferred cash value with a fixed rate of interest over time