Life Insurance – Whole Life

You grow up.  Get a job.  Buy a home.  Maybe start a family.  Over time, all these things grow in value.  And as they do, you have to devote more time and thought to their care and protection.  That’s life.  And it’s a lot of responsibility.

 

Whole life insurance can help you protect your loved ones by providing funds to help preserve their lifestyle.  This policy provides a lifetime of insurance protection at a cost that stays the same your whole life, no matter how your health may change.  And the value you select at the start is the benefit your loved ones are guaranteed, a death benefit that generally passes on tax-free.

 

Guaranteed premiums.  Guaranteed benefits.  This is what Whole Life can provide you.

 

Features of whole life insurance

Whole life does more than provide future financial security.  Whole life builds cash value over time. When you subtract this cash value from the total premiums paid, the net cost of a whole life insurance policy can be considerably less than a term policy.  And unlike term insurance, whole life insurance can earn dividends.  While not guaranteed, these dividends could further reduce the policy’s net cost and provide benefits in your later years.  Looking only at guaranteed cash value, compare a term policy with a whole life policy over a 20-year period.

 

Benefits of whole life insurance

  • Guaranteed death benefit generally passes on tax-free to beneficiaries
  • Cash values you can borrow against to use for your needs down the road
  • Potential dividends that can be used to acquire additional insurance
  • Typically, the sooner you purchase whole life, the lower your premiums will be

 

Life insurance is such an important decision.  One of our life insurance agents can help you find the right policy based on our discovery of needs.  Contact us for more information!

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