Whole Life Insurance

Signing up for whole life insurance just got easier. There are various types of uses you and your family can benefit from as you alleviate financial burdens. These benefits include paying off mortgage or any debt that you may have, childcare, living and education expenses. Whole life insurance benefits can also include covering final life expenses, including funeral costs. With whole life insurance, there are many benefits that can help you build your savings over time including a guaranteed cash value. With lifetime coverage, no gimmicks and no expiration date you can build a savings plan. This policy offers a cash value component that guarantees an interest rate that is accrued by the insurer and is then invested into a portion of your premiums in a tax-deferred cash value. It also offers cash value giving you the option to take out a loan (at a lower interest rate vs a private loan), withdraw all or partial funds for retirement and even surrender the policy. 

Types of whole life policy include non-participating, participating, limited pay and single premiums. Some even cover estate planning and estate taxes as well as the ability to accrue dividends. You can choose higher premiums at a steady rate with no increase equal to more cash value. The cost of premium payments goes into the cost of insurance, any operating fees and overhead, plus the cash value within the policy.