Whole Life Insurance

Whole life insurance is a life insurance plan that delivers some big time for your buck. Whole life is different from term because it covers a person for the entire remainder of their life, as long as the payments continue to be made. This isn’t a term policy because a whole life insurance policy is permanent and is in place from the day of purchase to your last day alive.

This type of policy tends to be a bit more expensive than the term life, especially since the insurer knows they will eventually need to pay off on it, but it also offers fantastic protection. There’s no worrying about changing terms or wondering how much premiums are going to shoot up if the term phases out.

As long as the payments are made, the coverage is complete and your beneficiary (or beneficiaries, if you have multiple) will receive the coverage amount.
This not only takes care of any funeral expenses but will also help by giving them the money they need to spend as they see fit.

Another important benefit of whole life policies: the cash value accumulated over your living lifetime can be borrowed against through a policy loan. This means you can borrow against the amount paid in for special expenses during your life time like a medical emergency, making payments on a home, or paying for a family member’s tuition.

Whole life insurance policies also offer additional flexibility. Whether you what more death protection benefits, access to the cash value of the policy, or even some dividend earning plans, whole life is the way to go in these situations.

Contact one of our specialists today to work with someone committed to finding the right personalized insurance plan for you.