Whole Life Insurance

Create a financial safety net for you and your family by getting whole life insurance. There is no predicting what unexpected hardships will occur but at Care Financial, we work with individuals to help with a sustainable financial plan from now to the future.

It’s Good To Know-When To Get Coverage

Are you confused about when to get whole life coverage? The earlier you start, the less you will pay for the policy. People who are breadwinners benefit the most from this coverage as fellow dependents gain income once you pass. If you decide to leave your job, you will still want independent coverage aside from employer insured. There are so many cases in which it is beneficial to have whole life coverage. For instance, knowing if you have or will develop a medical condition that requires long-term care can be beneficial in your decision to obtain whole life insurance. Knowing if you want to maximize your pension and wanting continued income at a later age can factor into your decision of getting whole life insurance coverage.

Whole Life Insurance Usage and Benefits

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.

Other Forms of Whole Life Policies

There are some other forms of whole life policies that last your whole life: Universal Life Policy and Variable Life Policy. The Universal Life Policy is also an excellent choice for estate planning at the best value. This policy is permanent life insurance with an investment savings element.  The Variable Life Policy works on investment goals such as mutual funds which allows you to grow your cash value.

Become a whole life policyholder today. Let us assist you in the right direction for a whole life insurance policy that fits your lifestyle. Care Financial is a privately owned and operated business providing families, individuals and businesses with comprehensive wealth management strategies. Contact us online at www.carefinaicialonline.com or call us at 251-633-7122.