Whole Life Insurance

This is the first and most traditional type of Permanent life insurance available. Whole life insurance provides a person with a guaranteed level premium for the life of the contract. Whole Life insurance is designed to insure a person until maturity at age 100.

Along with providing Life insurance protection, Whole Life also accumulates cash values throughout the years of the contract. As one pays premiums, a part of these funds will go into the Company account, receiving dividends and will accumulate on a tax–deferred basis. These policy values can be surrendered or borrowed at a later time. When borrowing policy values, you will be required to pay interest on the loan for each year you do not repay it. In most cases, borrowing policy values will also reduce the policy’s net death benefit.

Benefits of Whole Life Insurance

Provides permanent protection.

Cash values grow tax-deferred (like many retirement accounts) and can even be used on a tax–free basis in some circumstances.

Cash values are not invested in securities. Most people have 401K plans, IRAs and other accounts that invest their money in securities, or the stock market. Whole Life provides you with an option that has much lower levels of risk with similar tax benefits.

Whole Life insurance eventually reaches a point where it can become self–funding. This occurs when the annual dividend is equal or greater than the annual premium and usually takes about 15–20 years to establish.

For additional information regarding Whole Life insurance call 1–800–817–4522 or request a Life insurance Quote.