Whole Life Insurance

Permanent protection customized for your goals with a balanced approach between death benefit protection and cash value accumulation.

There are several misconceptions about whole life insurance. One of the biggest myths is that every “Whole Life Policy” is built and functions the same way…not true. Our specialists are myth busters! 

Whole life policies can be built in many ways depending on your objectives:  tax free retirement income, death benefit lasting up to age 121, and maximize cash value growth to name a few.

Whole life insurance will have several benefits in common.  Including permanent life insurance protection, potential annual dividends which have been paid consistently for hundreds of years, access to your cash value generally tax free, and premiums guaranteed to never increase.  

Whole life insurance is a very popular option for most people.

Whole Life Insurance

There are different types of Whole Life Insurance products. 

Part of the customization of your Whole Life Product includes riders that can be added to give each policy different functionality. Most carriers offer the following riders to choose from, some are at
no expense others will have an extra charge:

Disability Waiver of Premium 

Should the insured become totally disabled, premiums would be waved (details vary by carrier).

Accidental Death Benefit

 Additional death benefit if the death was caused by an accident, this rider usually terminates between 65-70.

Living Benefits Option

 Use a portion of your death benefit to pay for treatment or care with this option, options vary by carrier but can include Terminal illness, Chronic illness, Critical illness.

Paid-Up Additions

 Allows you to contribute additional premium to build more cash value and increase your death benefit when it’s convenient for you.

Rider features may differ based on the insurance product and carrier. Not all riders are available in every state, and some states vary the terms of certain riders. Additional limitations and conditions may apply.

Whole Life FAQs

A Whole life insurance policy will guarantee to last the life of the insured if the policy is in force. It will guarantee payment of a death benefit to the designated beneficiaries for the premium payments. The whole life policy will include a savings portion that is called the cash value along side of the death benefit.
Yes most companies will allow you to use the cash value with in the policy with guidelines attached. You will need to talk to your agent to find out the exact terms attached to your policy on the use of the cash value.
No most whole life policies are built on an individual basis. It is important for your agent to understand your unique goals and expectations for your policy. The same premium amount paid for one client could bring a much greater cash value than another.