Whole life insurance is one of the types of permanent life insurance which is also known as cash value life insurance.

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Contrary to the term life insurance, the whole life insurance covers the insured for the entire life and hence falls under the category of the permanent life insurance. Permanent life insurance policies are expensive than the term life insurance policies as it offers additional saving feature which is known as the cash value. In permanent life insurance policy, the insured does not have to worry about the expiration of the policy, the beneficiary gets paid when the insured dies as long as the premiums are being paid timely.

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Upon premium payment, a portion of the premium goes to the cash value which acts as a savings account of the policy. The cash value is then accumulated as it also earns the interest on it. These interests could vary based on the policy. Please refer to one of our agents to for more details.

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Because of its additional feature of cash value, the premiums for this policy are higher and hence it may not be for everyone. However, people who want to have a lifelong protection and want to leave a legacy for their loved ones or for any other purpose may opt for it.

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Whole life insurance policy comes with the following benefit:

• Protection for entire life

• Premiums typically stay level

• Generates cash value

• Fixed interest on cash value

• Tax free payout to beneficiary

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Please call us to find out more details on any of the products or book your free Financial Needs Analysis session with one of our experienced agents who will help you understand your needs and will also help you to choose the type of insurance and the benefit amount that is right for you.