Whole Life

Whole Life

Whole Life insurance offers guaranteed premiums that will not increase or decrease, a guaranteed death benefit plus the guarantee of building cash value within your life insurance policy.  With Whole Life insurance, you do not have to pay current income taxes on the increase of the cash value within the policy and you may be able to potentially access these funds on a tax-advantaged basis.

Whole Life is frequently referred to as “permanent” insurance because unlike Term policies, it remains in force for life, as long as the premiums are paid as scheduled. Also, unlike Term policies, after owning a policy long enough to build cash value, you may take out a loan on the cash value to use however you wish. When you pass away, your beneficiaries will receive the amount of the death benefit, minus any outstanding loans and loan interest that may be due on your policy.

Coverage you can count on
Death Benefit – With whole life insurance, your death benefit is
guaranteed as long the policy is in force.

Flexibility – You decide if you’d like to pay the full premium or let the premium increase gradually over time. Either way, your premium is guaranteed and predictable.

Cash Value – Benefit from tax-deferred cash value accumulation that is accessible at any time through policy loans and withdrawals.

The most important assets you have to protect don’t show up on your
balance sheet. Whole life is there to help protect your family. You
can choose to add these optional riders to your policy.

Let’s get started
Here are three considerations as you take a look at whole life.

1. Determine the amount of coverage you want. You decide what makes
sense based on your current expenses and the life you lead.
2. Check your budget. Determine which premium schedule fits within your
budget – either at the full whole life premium amount or grow into the
whole life premium gradually over a 10-20 year period.
3. Convenient coverage. For your convenience, there is no routine medical
testing required for face amount of $250,000 or less, or the age of 65
or less.

Whole life insurance doesn’t focus only on death benefits. It offers the protection you need at a cost that works within your budget.

Isn’t it time your life insurance provided you with the best of both worlds?