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Whole Life Insurance
Services > Life Insurance > Whole Life Insurancee

Why Whole Life Insurance?

If you want insurance that provides security, safety and predictability, and you want guaranteed premiums with guaranteed coverage, then you need whole life insurance.

When you decide to make whole life insurance part of your overall financial strategy, you help protect your family’s long-term financial security at your death. By doing so, the death benefit your family or beneficiaries receive can help them pay expenses at extremely difficult times.

How does Whole Life Insurance work?

Buying whole life insurance is like buying and owning a home.  It's a permanent life insurance policy that builds guaranteed cash value, just like your home builds equity.

Cash value is accumulated on a tax-deferred basis and can provide an important financial safety net, should you need it. You can use cash value for different purposes during your lifetime through tax-advantaged policy loans (use for retirement, buy a car or a house, pay for your kids education funding, etc.)

This type of insurance also allows you to borrow against the cash value of the policy while you are alive – often referred to as “living benefits.”   Cash can be borrowed from the policy for any purpose, such as supplemental retirement income, education funding, business expenses, emergencies, etc..

Whole life insurance is the ONLY life insurance product that offers a guaranteed death benefit, guaranteed cash value and guaranteed level premium—and the potential to earn dividends.

Summary of Whole Life Insurance Benefits
Guaranteed premiums Your premiums are guaranteed for the life of the policy.
Guaranteed death benefit  Your benefit never reduces as long as you pay the basic premium.
Guaranteed cash value Accumulates long-term cash values for future needs (college education, paying off you mortgage early, or supplementing your retirement income, etc.).
Tax advantages  Life insurance death proceeds are paid out income-tax free to your beneficiary.
Favorable loan feature You can access your policy's cash value tax-free through loans, which allows you to maximize your cash needs without sacrificing your life insurance protection.