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Whole life insurance, sometimes called straight life or permanent life, is protection that can be kept as long as you live. You can choose to pay a premium that doesn't rise as you grow older, averaging the cost of the policy over your life. Whole life insurance has a "cash value" or the sum that grows over the years with taxes deferred. If you cancel the policy, you receive a lump sum. |
Whole life insurance is a permanent form of insurance protection that combines a death benefit with cash value accumulations. The face amount is constant, and this amount would be paid if the insured dies at any time while the policy is in effect. Premium payments are fixed and remain the same from the original effective date to the maturity date. The policy is designed to mature at age 100 -- the age when premium payments would end and the cash value would equal the face amount. At maturity, the face amount of the whole life insurance policy would be paid to an insured who is still living.
Although whole life insurance policies are among the most common forms of life insurance sold, most individuals do not plan on paying premiums until age 100. Many of us do not expect to live until that age. More commonly, whole life insurance is used as a form of level protection during the income producing years. At retirement, many people then begin to use the accumulated cash value to supplement retirement income.
This type of life insurance plays an important role in financial planning for many families. In addition to the death benefit or eventual return of cash value, the policy has some other significant features. During a financial emergency, policy loans may be taken and the full policy values may later be restored. If the contract is a participating policy, it may also pay dividends.
A Life Insurance policy can provide low cost security for your family, as well as peace of mind for yourself. We provide a place to shop for many quality whole life insurance policies in private with no hassles. What's more, inside you'll find informative general resources to help you get started today.
Now more then ever, it is important to find stability and growth for you and your family. Looking into insurance is the first step to virtually guaranteeing a future that you can feel confident will be the best possible. Did you know that millions of people pay more than they need to for life insurance & whole life insurance every year? Even special medical conditions need not drive your insurance rates unreasonably high. | 
