Life Insurance

Whole Life

Whole Life

What is Whole life insurance?

Whole life insurance is a life insurance policy that doesn’t expire as long as your premiums continue to be paid. Over the years, your premiums offer a death benefit and a cash value that accrues.

What is Whole-life insurance for?

Whole-life insurance is designed to accomplish two things:

  • It provide a safety net or an inheritance for your family in the form of a death benefit which pays out after your death.

  • It allows you to accumulate savings that you can borrow against later in the form of a cash loan.

Advantages of Whole-life insurance

A Whole- life policy can give you security for the rest of your life, and the ability to access funds if needed for major life events.

A main benefit of  Whole-life insurance policies is they don’t expire. You don’t need to buy a new policy at the end of at term with a significantly higher premium due to your age and health.

Whole-life policies enable you to take out a loan to pay off a home mortgage early, cover a child’s college tuition, or even go on a vacation.